NuScale Power executive cashes in $1m in stock sales

NuScale Power Corp (NYSE:SMR) has reported that Robert K. Temple, a retired executive of the company, has recently engaged in significant stock transactions. According to the latest filings, Temple sold a total of 100,000 shares of NuScale Power's Class A Common Stock, netting approximately $1 million.

The stock sales occurred over two days, with 50,000 shares being sold each day. On August 13, the shares were sold at a weighted average price of $10.031, with prices ranging from $10.02 to $10.09. The following day, another 50,000 shares were sold at a weighted average price of $10.00, with transaction prices ranging between $10.00 and $10.03. These sales resulted in a total value of $1,001,550 for the sold shares.

In addition to the sales, Temple also exercised options to acquire 100,000 shares of Class A Common Stock at a price of $3.41 per share, which amounts to a total transaction value of $341,000. It is important to note that these options were part of an employee stock option plan, with the options becoming fully exercisable by March 1, 2021.

Following these transactions, Temple's remaining stake in the company has been adjusted accordingly. The exact number of shares he retains after the sales and option exercises was not disclosed in the filing.

Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. However, it's also common for executives to sell shares for personal financial planning purposes, unrelated to their outlook on the company's performance.

NuScale Power Corp, headquartered in Portland, Oregon, operates within the fabricated plate work (boiler shops) industry and is known for its small modular reactor (SMR) technology. The company has been gaining attention as a potential key player in the future of clean and reliable energy.

In other recent news, NuScale Power has had several significant developments. The company recently released its Q2 2024 financial results, reporting a net loss of $74.4 million. Despite the loss, NuScale maintains a strong cash position of $136 million and has highlighted progress in the RoPower project and a new revenue-generating agreement in Romania. TD Cowen, an independent firm, maintains a Buy rating on NuScale Power, projecting a slight reduction in cash usage due to expected revenue from RoPower.

The company is also moving forward with Phase 2 of the Front-End Engineering Design (FEED) for the RoPower project, which is expected to be completed by July 2025. This will be followed by an investment decision. NuScale Power has also executed a revenue-generating agreement for the Doicesti Project in Romania, in collaboration with ENTRA1 Energy.

The company's small modular reactor (SMR) technology, the only one with a design certification from the Nuclear Regulatory Commission (NRC), continues to draw interest. Lastly, NuScale Power celebrated its 17th anniversary, demonstrating its commitment to advancing SMR nuclear technology. These are the recent developments in the company's journey towards revolutionizing the nuclear power industry.

InvestingPro Insights

NuScale Power Corp's (NYSE:SMR) recent insider transactions coincide with some notable metrics and trends identified by InvestingPro. With a market capitalization of $2.35 billion, the company's financial health and stock performance offer a mixed picture for investors.

InvestingPro Data reveals that NuScale Power Corp has experienced significant volatility, with a one-week price total return of 9.78%, highlighting a recent uptick in performance. However, this is set against a backdrop of a one-month price total return showing a substantial decline of -40.35%. Over a longer period, the company has seen a large price uptick with a six-month total return of 230.88% and a year-to-date return of 186.63%.

InvestingPro Tips for NuScale Power Corp indicate that the company holds more cash than debt on its balance sheet, which could be a sign of financial stability. Moreover, the company's liquid assets exceed its short-term obligations, suggesting a solid liquidity position. These factors are critical when considering the company's capacity to fund operations and growth initiatives.

For investors looking for additional insights, there are more InvestingPro Tips available, which provide deeper analysis and context for NuScale Power Corp's financials and stock performance. These tips can be accessed through the dedicated page for NuScale Power Corp at https://www.investing.com/pro/SMR.

It's important to note that while insider transactions like those executed by Robert K. Temple can be informative, they represent a single piece of the broader investment puzzle. By considering comprehensive data and expert tips from InvestingPro, investors can gain a clearer understanding of the company's potential and make more informed decisions.

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