NuScale Power COO sells over $108k in company stock

NuScale Power Corp's (NYSE:SMR) Chief Operating Officer, Carl M. Fisher, has sold a portion of his holdings in the company, according to a recent filing. Fisher offloaded 12,302 shares of Class A Common Stock at an average price of $8.788 per share, resulting in a total transaction value of $108,109.

The transaction, which took place on August 6, 2024, was a part of Fisher's tax withholding obligations related to the vesting and settlement of restricted stock units. The sales were executed to cover these obligations through a "sell to cover" transaction, as detailed in the footnotes of the filing.

On a related note, the filing also reported that Fisher had acquired 42,625 shares of Class A Common Stock on August 5, 2024, at no cost. This acquisition was connected to the vesting of restricted stock units, each representing a contingent right to receive one share of Class A Common Stock. These units were part of a grant of 127,875 restricted stock units awarded to Fisher on July 22, 2023, with a vesting schedule to commence annually in three installments beginning on August 4, 2024.

Following the reported transactions, Fisher's direct ownership in NuScale Power Corp stands at 30,323 shares of Class A Common Stock. The disclosed dealings provide a glimpse into the executive's trading activities and adjustments to his stake in the company.

Investors and market watchers often monitor insider transactions such as these for insights into executive sentiment and potential financial moves within the company. NuScale Power Corp, listed on the NYSE under the ticker SMR, is known for its work in the fabricated plate work (boiler shops) industry, specifically within the manufacturing sector.

In other recent news, NuScale Power Corporation has been making significant strides in the energy sector, with recent developments highlighting the company's commitment to expanding the power grid with clean and reliable energy. B.Riley has raised its price target for NuScale Power from $8 to $14, maintaining a Buy rating, reflecting the company's advantageous position following recent Department of Energy funding announcements and less dilution than previously expected. In their Q1 2024 financial results, NuScale reported a net loss of $48.1 million, with a relatively low revenue of $1.4 million, but remains debt-free with $137.1 million in cash.

The company is actively engaging with data center and AI companies, exploring opportunities in the petrochemical industry, and has partnered with Inter One Energy to support power plant development. Its 77 MW uprate design is currently under review by the U.S. NRC, and it is awaiting two Small Modular Reactor (SMR) appropriations programs totaling $900 million. These recent developments underscore NuScale's commitment to meeting global energy demands.

NuScale Power is focusing on light-water reactor designs, with its six and 12-module plants expected to produce 462 and 924 MWe, respectively. This is in contrast to Oklo Inc., who is developing an advanced liquid metal fast fission reactor, targeting smaller-scale microreactors with outputs of 15 and 50 MWe. Both companies recently showcased the advantages of their nuclear technologies over traditional nuclear and other clean energy sources at B. Riley's Virtual Energy Infrastructure Investment Ideas Day.

InvestingPro Insights

As NuScale Power Corp's (NYSE:SMR) Chief Operating Officer adjusts his stake in the company, investors are also evaluating the company's financial health and market performance. Recent data from InvestingPro provides some context for understanding NuScale's current situation.

According to InvestingPro, NuScale Power Corp holds more cash than debt on its balance sheet, which is a positive sign of financial stability. This is particularly noteworthy as it suggests the company has a buffer to manage its financial obligations and invest in growth opportunities. Additionally, analysts anticipate sales growth in the current year, which may reflect optimism about the company's revenue potential and market position.

InvestingPro Data metrics also offer a snapshot of the company's valuation and performance. NuScale Power Corp has a market capitalization of $1.98 billion, indicating its size and significance in the market. Despite a challenging quarter with a 74.95% revenue decline, the company has experienced a 25.7% revenue growth over the last twelve months as of Q1 2024. However, it's important to note that the company has a negative P/E ratio of -11.42, suggesting that it is not currently profitable.

For those looking for more in-depth analysis, InvestingPro offers additional insights. There are 15 more InvestingPro Tips available, including information on the company's price volatility, profit margins, and analyst profitability expectations. To explore these further, one can visit the dedicated page for NuScale Power Corp on InvestingPro: https://www.investing.com/pro/SMR.

These InvestingPro Tips and data metrics can provide investors with a more comprehensive view of NuScale Power Corp's financial health and market performance, complementing the insights gained from executive trading activities.

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