CORVALLIS, OR—Jacqueline F. Engel, the Interim Vice President of Accounting at NuScale Power Corp (NYSE:SMR), recently executed a sale of Class A Common Stock, according to a filing with the Securities and Exchange Commission. The transaction comes as the stock has experienced significant volatility, with InvestingPro data showing a remarkable 616% return over the past year despite a recent 11% decline in the past week. Engel sold 1,007 shares at a price of $26.49 each, amounting to a total transaction value of $26,675. Following this transaction, Engel retains ownership of 2,794 shares in the company. The stock sale was reported under a prearranged trading plan. Currently trading at $22.39, InvestingPro analysis indicates the stock is overvalued, with 14 additional key insights available to subscribers, including detailed insider trading patterns and comprehensive valuation metrics.
In other recent news, NuScale Power Corporation reported its third-quarter earnings for 2024, demonstrating a robust financial position and strategic advancements in the clean energy sector. The company is in a strong position in the clean energy transition, with its small modular reactor (SMR) technology being the only one with Nuclear Regulatory Commission approval and ready for near-term deployment. The company's financials showed a cash position of $161.7 million and a decrease in operating expenses from $93.9 million to $41.2 million year-over-year.
NuScale is advancing in collaborations, having partnered with ENTRA1 Energy and received a $20 million customer deposit from RoPower. The company is also expected to conclude a power upgrade application for the SMR design by mid-2025. Despite reporting a net loss of $45.5 million, this was an improvement from the previous year's $58.3 million loss.
Moreover, NuScale's technology is attracting interest from major tech firms such as Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Google (NASDAQ:GOOGL) for carbon-free energy solutions. The company also maintains strong supply chain and manufacturing partnerships, such as with Doosan Enerbility, to support production readiness. As part of recent developments, NuScale is working on the RoPower project and establishing an energy exploration center in Ghana.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.