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 (TSX:POW) 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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