CORVALLIS, OR—Jacqueline F. Engel, the Interim Vice President of Accounting at NuScale Power Corp (NYSE:SMR), recently executed a series of transactions involving the company's Class A Common Stock. The transactions come amid a remarkable year for the company, which has seen its stock surge over 727% year-to-date, according to InvestingPro data. On November 29, Engel sold 18,186 shares at a price of $29 each, generating a total of $527,394.
In addition to the sale, Engel also exercised stock options, acquiring 18,186 shares at prices ranging from $3.24 to $6.41. These transactions were part of a planned trading strategy under Rule 10b5-1, as indicated in the filing. Following these transactions, Engel holds 3,801 shares directly.
In other recent news, NuScale Power Corporation has made significant strides in the clean energy transition, as highlighted in their third-quarter earnings report for 2024. The company reported a strong cash position of $161.7 million and successfully reduced operating expenses from $93.9 million to $41.2 million year-over-year. However, it also reported a net loss of $45.5 million, an improvement from the previous year's loss of $58.3 million.
NuScale's small modular reactor (SMR) technology, the only one with Nuclear Regulatory Commission approval, is ready for near-term deployment. The company is collaborating with ENTRA1 Energy and has received a $20 million customer deposit from RoPower. Additionally, a power upgrade application for the SMR design is expected to be concluded by mid-2025.
Major tech firms including Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Google (NASDAQ:GOOGL) have shown interest in NuScale's technology for carbon-free energy solutions. The company is also advancing the RoPower project and establishing an energy exploration center in Ghana. Despite a competitive landscape with natural gas development as an alternative energy source, NuScale remains confident in meeting near-term sales goals and contributing to the green energy transition.
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