NuScale Power Corp's (NYSE:SMR) Chief Executive Officer, John Lawrence Hopkins, has recently sold a significant number of shares in the company, according to the latest SEC filings. The transactions, which took place on March 22, 2024, involved the sale of 59,768 shares of Class A Common Stock at a weighted average price of $4.20 per share, totaling $251,025.
The sales were carried out in multiple transactions with prices ranging from $4.20 to $4.23. Following the sale, Hopkins no longer holds any shares of NuScale Power Corp's Class A Common Stock in a direct capacity. This move comes as notable information for investors and the market, as executive stock transactions are often closely watched for insights into a company's internal perspective.
NuScale Power Corp, which operates in the fabricated plate work (boiler shops) industry, is known for its involvement in the manufacturing sector. The company's business address is in Portland, Oregon, and it trades on the New York Stock Exchange under the ticker symbol NYSE:SMR.
For those interested in the detailed breakdown of the sale prices, Hopkins has committed to providing the full information regarding the number of shares sold at each separate price within the reported range upon request to NuScale Power Corporation, any security holder, or the SEC staff.
The transaction was signed off by Patrick C. Cannon, attorney-in-fact for John L. Hopkins, ensuring the proper documentation and disclosure of the stock sale as per regulatory requirements.
InvestingPro Insights
As NuScale Power Corp's (NYSE:SMR) CEO John Lawrence Hopkins exits his position in the company's stock, investors are keen to understand the financial health and market performance of NuScale. Here are some insights based on real-time data and analysis from InvestingPro:
Despite the CEO's recent stock sale, NuScale Power Corp holds a strong cash position, with more cash than debt on its balance sheet. This is a positive sign for the company's financial stability, which could reassure investors about its ability to fund operations and growth initiatives.
The company's market capitalization stands at $1.07 billion, reflecting its current market valuation. While the P/E ratio is negative at -6.14, indicating that the company is not currently profitable, analysts anticipate sales growth in the current year, suggesting potential for future profitability.
InvestingPro also highlights that NuScale has experienced a significant stock price decline over the last week, with a 1-week price total return of -41.78%. This level of price volatility is in line with the InvestingPro Tip that the stock generally trades with high price volatility.
For investors seeking more comprehensive analysis and additional InvestingPro Tips, such as expectations for net income and profitability this year, or the company's valuation implications, they can visit InvestingPro's dedicated page for NuScale Power Corp at https://www.investing.com/pro/SMR. There are a total of 15 InvestingPro Tips available, which provide deeper insights into the company's financials and market performance. To gain access to these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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