Why Is NuScale Power Stock Sliding Right Now?
NuScale Power (NYSE: SMR) is a nuclear power start-up focused on small modular reactors (SMRs). The company is a speculative bet on small-scale nuclear power. The stock had been rising, but NuScale shares dropped 37% from July 25 to Aug. 19. What's going on?
It appears that NuScale is the victim of a pair of negative catalysts that hit in rapid succession: news of a big insider stock sale and a tepid quarterly report.
On July 31, construction and engineering company Fluor Enterprises (NYSE: FLR) -- NuScale's largest shareholder -- entered into an agreement to exchange 15 million Class B shares of NuScale stock for 15 million Class A shares. The transaction took place on Aug. 12. That agreement allows Fluor to sell the shares starting on Sept. 11, subject to some daily limitations.
Source Fool.com
Fluor Corp. Stock
The stock is an absolute favorite of our community with 24 Buy predictions and no Sell predictions.
As a result the target price of 52 € shows a positive potential of 47.06% compared to the current price of 35.36 € for Fluor Corp..
