In a recent transaction, retired executive Robert K. Temple made significant moves in the stock market involving shares of NuScale Power Corp (NYSE:SMR). On October 4, Temple sold a total of 68,558 shares of NuScale Power at an average price of $13.02, resulting in a total sale value of approximately $892,625. This sale was executed in multiple transactions with prices ranging between $12.99 and $13.15 per share.
In the same trading session, Temple also acquired an equivalent number of shares, 68,558 to be exact, at a price of $6.41 each, amounting to a total purchase value of around $439,456. The transactions were reported in a regulatory filing with the Securities and Exchange Commission.
NuScale Power Corp, known for its work in the fabricated plate work (boiler shops) sector, has seen interest from its executives in stock transactions, which are often closely monitored by investors for insights into a company's performance and executive confidence.
The transactions come at a time when the market is keenly observing insider activity for indications of a company's future potential. While these transactions provide a snapshot of individual activity, they are part of a broader context that investors consider when evaluating their investment decisions.
For further details on the transactions, including the exact number of shares sold at each separate price within the provided ranges, NuScale Power Corporation has committed to providing full information upon request to any security holder or the staff of the Securities and Exchange Commission.
In other recent news, NuScale Power reported a net loss of $74.4 million in its Q2 2024 financial results, while maintaining a strong cash position of $136 million. The company highlighted the progress of the RoPower project and a new revenue-generating agreement in Romania. Craig-Hallum initiated coverage on NuScale Power, assigning the stock a Buy rating, while CLSA initiated coverage with an Outperform rating. TD Cowen maintained its Buy rating on NuScale, emphasizing the company's ongoing cash consumption and the expected reduction in the pace of cash usage due to revenue from RoPower.
NuScale Power's small modular reactor (SMR) technology, the only one with a design certification from the Nuclear Regulatory Commission (NRC), continues to garner interest. The company is also proceeding with Phase 2 of the front-end engineering design for the RoPower project. Despite a substantial net loss, NuScale has managed to reduce operational expenses from $55 million to an average of $43 million over the past two quarters.
These recent developments highlight NuScale's ongoing efforts to navigate the nuclear energy market. The company's strategic initiatives, including the anticipated completion of Phase 2 FEED and subsequent investment decision, are critical milestones. As the company continues to navigate the complexities of the nuclear energy market, it remains focused on commercializing its SMR technology and maintaining financial prudence amidst a challenging economic environment.
InvestingPro Insights
NuScale Power Corp (NYSE:SMR) has recently caught the attention of investors following insider transactions, and a closer look at the company's financial metrics provides additional context for these moves.
According to InvestingPro data, NuScale Power has a market capitalization of $3.2 billion USD, reflecting its position in the fabricated plate work sector. The company's stock has shown remarkable volatility, with a significant return of 84.24% over the last month and an impressive 123.65% over the past year. This aligns with an InvestingPro Tip indicating that SMR has experienced a "Strong return over the last month."
Despite the recent positive stock performance, NuScale Power faces some financial challenges. The company's revenue for the last twelve months as of Q2 2024 stood at $13.86 million USD, with a concerning revenue growth decline of -22.64% over the same period. This decline is even more pronounced in the quarterly figures, with a -83.31% revenue drop in Q2 2024 compared to the previous year.
An InvestingPro Tip suggests that "Analysts anticipate sales decline in the current year," which seems to be supported by the recent financial data. Additionally, the company "Does not pay a dividend to shareholders," which may be a consideration for income-focused investors.
It's worth noting that NuScale Power "Holds more cash than debt on its balance sheet," according to another InvestingPro Tip. This financial cushion could provide some stability as the company navigates through its current challenges.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for NuScale Power, which could provide valuable insights into the company's financial health and market position.
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