NuScale Power Corp (NYSE:SMR) has reported a recent sale of shares by General Counsel Robert K. Temple, according to the latest SEC filings. Temple executed transactions involving Class A Common Stock that resulted in a considerable sell-off.
On May 3, Temple sold 8,873 shares at an average price of $6.04, amounting to a total of $53,592. This sale was part of a "sell to cover" transaction to satisfy tax withholding obligations related to the vesting of restricted stock units. A few days later, on May 6, he sold an additional 23,806 shares at an average price of $6.07 per share, totaling $144,502. The latter transaction was carried out under a prearranged 10b5-1 trading plan with Fidelity.
These sales occurred after Temple acquired 32,680 shares through the vesting of restricted stock units on May 2, at no cost. Following these transactions, Temple's direct ownership in NuScale Power Corp has been adjusted to 19,054 shares of Class A Common Stock.
The reported transactions provide insight into the trading activities of NuScale Power's insiders, offering investors a glimpse into the stock's movement from the perspective of the company's management. The stock transactions by the General Counsel are a routine disclosure, and such filings are closely watched by investors seeking to understand the confidence level of a company's executives in their firm's prospects.
NuScale Power Corp specializes in fabricated plate work and is known for its innovative small modular reactors. Based in Portland, Oregon, the company has been gaining attention for its role in the evolving clean energy sector.
InvestingPro Insights
NuScale Power Corp (NYSE:SMR) has been making headlines not only due to insider trading activities but also for its financial metrics and market performance. The company, which is carving a niche in the clean energy sector with its small modular reactors, holds an adjusted market capitalization of approximately $1.49 billion. This valuation comes amidst a significant revenue growth of 93.24% over the last twelve months as of Q4 2023, indicating a strong expansion in its financial size despite the company's challenges in profitability.
An InvestingPro Tip suggests that while analysts expect sales growth in the current year, they do not anticipate the company will be profitable this year. This aligns with the reported adjusted P/E ratio for the last twelve months as of Q4 2023 standing at -8.67, reflecting investor skepticism about near-term earnings. Moreover, the company's stock has been experiencing high price volatility, which could be linked to the recent insider sales and the broader market's assessment of its future prospects.
Investors may find it noteworthy that despite the recent insider sell-off, NuScale's liquid assets exceed its short-term obligations, which could be a sign of financial resilience. This is complemented by the fact that the company holds more cash than debt on its balance sheet, an InvestingPro Tip that might reassure investors about the company's liquidity position.
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