Corp Fluor Sells 2,372,563 Shares of NuScale Power (NYSE:SMR) Stock

NuScale Power Corporation (NYSE:SMR) Director Corp Fluor sold 2,372,563 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 stock was 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 stock was 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 stock was sold at an average price of $37.26, for a total transaction of $28,747,692.18.

NuScale Power Stock Down 4.8%

NuScale Power stock opened at $39.65 on Thursday. The firm has a market cap of $11.30 billion, a PE ratio of -33.32 and a beta of 2.03. NuScale Power Corporation has a 52-week low of $10.71 and a 52-week high of $53.50. The company’s 50 day moving average is $40.32 and its two-hundred day moving average is $30.42.

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

Analyst Upgrades and Downgrades

SMR has been the topic of a number of research reports. UBS Group increased their target price on shares of NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Citigroup began coverage on shares of NuScale Power in a report on Monday, June 23rd. They issued a “neutral” rating and a $46.00 price objective on the stock. Northland Securities began coverage on shares of NuScale Power in a report on Monday, July 7th. They issued a “market perform” rating and a $35.00 price objective on the stock. BTIG Research lowered shares of NuScale Power from a “buy” rating to a “neutral” rating in a report on Wednesday, June 25th. Finally, BNP Paribas Exane began coverage on shares of NuScale Power in a report on Friday, July 25th. They issued a “neutral” rating and a $41.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, NuScale Power has a consensus rating of “Hold” and a consensus target price of $36.09.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Kaizen Financial Strategies purchased a new position in shares of NuScale Power in the 1st quarter valued at $204,000. Cambridge Investment Research Advisors Inc. grew its position in shares of NuScale Power by 31.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company’s stock valued at $2,734,000 after buying an additional 46,744 shares during the last quarter. Fox Hill Wealth Management grew its position in shares of NuScale Power by 29.1% in the 2nd quarter. Fox Hill Wealth Management now owns 121,796 shares of the company’s stock valued at $4,818,000 after buying an additional 27,462 shares during the last quarter. MFG Wealth Management Inc. purchased a new position in shares of NuScale Power in the 2nd quarter valued at $1,829,000. Finally, California State Teachers Retirement System grew its position in shares of NuScale Power by 17.9% in the 4th quarter. California State Teachers Retirement System now owns 79,687 shares of the company’s stock valued at $1,429,000 after buying an additional 12,070 shares during the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

About NuScale Power

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.