CFO Robert Ramsey Hamady Sells 18,570 Shares of NuScale Power

On March 3, 2024, Robert Ramsey Hamady, Chief Financial Officer of NuScale Power Corporation, sold 18,570 shares of the company’s stock. The shares were sold at an average price of $12.22, resulting in a total transaction value of $226,925.40. Following this sale, Hamady retains 97,192 shares in the company, which are valued at approximately $1,187,686.24. This transaction represents a 16.04% reduction in his ownership stake in NuScale.

The details of the sale were disclosed in a legal filing with the Securities and Exchange Commission. This move reflects a significant shift in Hamady’s holdings, which could indicate various strategic considerations.

NuScale Power’s Market Activity

As of Thursday, NuScale Power’s stock opened at $12.54. The company’s stock performance has seen fluctuations, with a twelve-month low of $11.08 and a high of $57.42. Currently, NuScale Power boasts a market capitalization of $3.74 billion, a price-to-earnings ratio of -4.34, and a beta of 2.19. The firm’s moving averages stand at $16.58 for 50 days and $26.56 for 200 days, reflecting its volatility and market presence.

Recent trading activity from institutional investors indicates growing interest in NuScale Power. Several hedge funds have adjusted their positions, with CX Institutional, Nemes Rush Group LLC, and Strategic Advocates LLC each acquiring new stakes valued at approximately $25,000. Notably, Vermillion & White Wealth Management Group LLC increased its stake by an impressive 1,550.9% in the fourth quarter, now owning 1,783 shares worth around $25,000. Overall, institutional investors and hedge funds collectively hold 78.37% of NuScale Power’s stock.

Analysts’ Perspectives on NuScale Power

Equities research analysts have provided varied assessments of NuScale Power’s stock. Bank of America recently upgraded its rating from “underperform” to “neutral,” setting a price target of $28.00. Meanwhile, B. Riley Financial revised its target from $38.00 to $24.00, maintaining a “buy” rating. Other analysts, including those at Barclays and Canaccord Genuity Group, have adjusted their price targets significantly, reflecting the volatility and uncertainty surrounding the stock.

Currently, one analyst has issued a “Strong Buy” rating, five have rated it as a “Buy,” eight analysts suggest a “Hold,” and three have assigned a “Sell” rating. The consensus rating for NuScale Power stands at “Hold” with an average target price of $21.42, according to data from MarketBeat.

About NuScale Power Corporation

Founded in 2007 as a spinout from Oregon State University, NuScale Power Corporation specializes in the development of small modular nuclear reactors. Headquartered in Portland, Oregon, the company aims to provide zero-carbon baseload power through its innovative modular reactor technology. Central to its offerings is the VOYGR small modular reactor design, which features 77-megawatt electric modules equipped with passive safety systems.

As the world increasingly focuses on sustainable energy solutions, NuScale Power is positioned as a key player in transforming the landscape of nuclear energy deployment. The company’s technologies not only promise to enhance energy security but also aim to significantly reduce the carbon footprint associated with traditional energy sources.