NuScale Power (NYSE:SMR) Director Sells $104,369,046.37 in Stock

NuScale Power Corporation (NYSE:SMR) Director Corp Fluor sold 2,372,563 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the sale, the director directly owned 10,085,344 shares of the company’s stock, valued at approximately $443,654,282.56. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Corp Fluor also recently made the following trade(s):

• On Tuesday, September 23rd, Corp Fluor sold 981,688 shares of NuScale Power stock. The stock was sold at an average price of $42.69, for a total transaction of $41,908,260.72.
• On Monday, September 22nd, Corp Fluor sold 1,213,069 shares of NuScale Power stock. The stock was sold at an average price of $44.84, for a total transaction of $54,394,013.96.
• On Thursday, September 18th, Corp Fluor sold 1,193,504 shares of NuScale Power stock. The shares were sold at an average price of $38.95, for a total transaction of $46,486,980.80.
• On Wednesday, September 17th, Corp Fluor sold 577,046 shares of NuScale Power stock. The shares were sold at an average price of $36.00, for a total transaction of $20,773,656.00.
• On Tuesday, September 16th, Corp Fluor sold 771,543 shares of NuScale Power stock. The shares were sold at an average price of $37.26, for a total transaction of $28,747,692.18.

NuScale Power Stock Performance

SMR opened at $37.60 on Friday. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of -31.60 and a beta of 2.03. The company has a fifty day moving average of $40.13 and a 200 day moving average of $30.58. NuScale Power Corporation has a fifty-two week low of $10.71 and a fifty-two week high of $53.50.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $8.05 million for the quarter, compared to analysts’ expectations of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. On average, equities research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SMR has been the subject of several research analyst reports. BNP Paribas Exane initiated coverage on shares of NuScale Power in a research note on Friday, July 25th. They set a “neutral” rating and a $41.00 target price for the company. Citigroup began coverage on shares of NuScale Power in a research note on Monday, June 23rd. They issued a “neutral” rating and a $46.00 price objective for the company. UBS Group upped their target price on shares of NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. BTIG Research lowered NuScale Power from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 25th. Finally, Bank of America started coverage on NuScale Power in a research report on Thursday, August 21st. They set a “neutral” rating and a $36.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, NuScale Power has a consensus rating of “Hold” and an average target price of $36.09.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of NuScale Power by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after buying an additional 1,153,158 shares during the last quarter. Bank of America Corp DE grew its position in shares of NuScale Power by 80.9% in the 2nd quarter. Bank of America Corp DE now owns 2,333,248 shares of the company’s stock worth $92,303,000 after buying an additional 1,043,676 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of NuScale Power in the 1st quarter worth approximately $14,271,000. Finally, Man Group plc purchased a new stake in NuScale Power during the 2nd quarter worth approximately $33,877,000. Institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.