NuScale's Small Modular Reactor Approved by NRC
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 29 2026
0mins
Should l Buy SMR?
Source: NASDAQ.COM
- Regulatory Approval: NuScale's small modular reactor (SMR) has received approval from the U.S. Nuclear Regulatory Commission (NRC), making it the only approved SMR, which marks a significant milestone for the company and could pave the way for future commercialization.
- Project Partnership: NuScale has partnered with the Tennessee Valley Authority (TVA) to deploy 6 gigawatts of SMR across seven states, backed by a $400 million grant, with commercial operations targeted for early next decade, significantly enhancing the company's market position and revenue potential.
- Revenue Volatility: While NuScale expects to generate $63.1 million in revenue from its ongoing project with Romania's RoPower between Q2 2024 and Q4 2025, its revenue is dependent on project continuity and has shown a declining trend in 2025, indicating risks in revenue stability.
- Investment Risks: Although NuScale is at the forefront of SMR technology deployment, its reliance on irregular revenue streams and investor funding necessitates cautious consideration of its speculative investment potential, particularly over the next few years.
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Analyst Views on SMR
Wall Street analysts forecast SMR stock price to rise
13 Analyst Rating
5 Buy
6 Hold
2 Sell
Hold
Current: 13.290
Low
18.50
Averages
32.77
High
60.00
Current: 13.290
Low
18.50
Averages
32.77
High
60.00
About SMR
NuScale Power Corporation is a provider of proprietary advanced small modular reactor (SMR) nuclear technology. The NuScale Power Module, the Company's SMR technology, is a small pressurized water reactor that can generate approximately 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross) and can be scaled to meet customer needs through an array of flexible configurations of up to 924 MWe (12 modules) of output. In addition to the sale of NPMs, it offers a diversified suite of services throughout the development and operating life of the power plant. The Company's suite of services is planned to include licensing support, testing, training, fuel supply services and program management, among others. It serves a range of customers consisting of domestic and international governments, utilities, state-owned enterprises and technology and industrial companies in need of carbon-free, reliable energy.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
NuScale Power's Growth Potential Over Next Five Years
- Market Opportunity: NuScale Power is pursuing a $10 trillion market opportunity, yet its slow project progress means the first operational plant may not be completed until 2030 at the earliest, which could impact its competitive position.
- Regulatory Advantage: As the first company to receive approval for a small modular reactor (SMR) design in the U.S., NuScale holds a competitive edge, but the lack of operational plants leaves the market in a wait-and-see mode regarding its future performance.
- Financial Challenges: In 2025, NuScale reported a net loss of $664 million, the largest in its history, forcing the company to sell large blocks of stock to fill financing gaps, significantly diluting shareholder equity.
- Project Progress: Although the 6-gigawatt project for the Tennessee Valley Authority is the largest SMR project in the U.S. and is set to begin construction by late 2028, NuScale has faced cancellations of large orders in the past, raising doubts about its ability to deliver on time.
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NuScale Power Price Target Cut Amid Analyst Caution
- Analyst Target Cuts: Northland has lowered NuScale Power's price target from $21 to $19 while maintaining an 'Outperform' rating, indicating a cautious outlook despite rising interest in nuclear energy.
- Retail Sentiment Surge: Retail chatter around NuScale has surged by 650% in the last 24 hours, reflecting investor focus on rival Oklo's upcoming results, even as the company faces significant revenue declines.
- Dramatic Revenue Drop: In its Q1 report, NuScale Power revealed a staggering 96% drop in revenue to $0.57 million, primarily due to timing issues with licensing agreements, resulting in a net loss of $0.14 per share, aligning with Wall Street expectations.
- Divergent Analyst Ratings: While Citi has cut its price target to $7 with a 'Sell' rating, NuScale's 12-month average price target stands at $16.50, suggesting a potential upside of about 24%, reflecting a long-term optimistic sentiment towards nuclear energy despite current challenges.
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- Massive Market Opportunity: NuScale Power currently has a market cap of $4.3 billion, and if shares were to rise by 1,000%, the market cap could reach $43 billion, highlighting its significant potential in the nuclear market amid rising global investment.
- Investment Growth Trend: According to Goldman Sachs, global investment in nuclear energy is projected to grow at a compound annual growth rate of 14% from 2020 to 2024, indicating a renewed focus on nuclear technology, with NuScale positioned at the forefront of this trend as a designer of small modular reactors.
- Unique Market Positioning: NuScale is the only operator in the U.S. with approved small modular reactor designs from the Nuclear Regulatory Commission, and while it has yet to construct any reactors, it is leading several major projects, including a 6-gigawatt initiative for the Tennessee Valley Authority.
- Long-Term Growth Potential: Goldman Sachs estimates a total addressable market of $1.1 trillion for small modular reactors by 2035, and despite facing competition and project volatility, NuScale has the potential to become a 10x stock, necessitating a long-term investment horizon for stakeholders.
See More
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- Market Performance: The NASDAQ 100 Pre-Market Indicator is down 40.56 points to 29,194.43, indicating cautious market sentiment that may influence short-term investor decisions.
- Active Stocks: Nokia Corporation (NOK) is up $0.27 to $13.09 with a trading volume of 6,532,196 shares, and the current mean recommendation is in the 'buy range', reflecting optimistic market expectations for its future performance.
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NuScale Power Faces Critical Growth Opportunities Ahead
- Slow Nuclear Project Progress: NuScale Power is the only company in the U.S. to have received approval for a small modular reactor (SMR) design, yet despite 74 SMR projects under development globally, its first nuclear plant may not be operational until 2030, which could hinder its competitive edge in the market.
- Collaboration with TVA: NuScale is working on a 6-gigawatt utility-scale project with the Tennessee Valley Authority, set to begin construction by late 2028 and complete by 2032; if successful, this could significantly enhance the company's market position, but the market remains cautious about its ability to deliver on time.
- Worrisome Financials: In 2025, NuScale reported a net loss of $664 million, the largest in its history, forcing the company to sell large blocks of stock to fill financing gaps, resulting in a roughly 1500% increase in share count since going public, which dilutes existing shareholders' equity.
- Uncertain Future: The future trajectory of NuScale's stock will depend on its ability to successfully build reactors and secure funding without further diluting shareholders, with current market sentiment adopting a wait-and-see approach regarding its growth potential.
See More
NuScale Power Faces Growth Challenges Amidst Market Decline
- Market Performance Decline: NuScale Power's stock has plummeted from $57 last October to $12 today, reducing its market cap from approximately $17 billion to $4 billion, indicating market concerns over its future profitability.
- Revenue Growth Requirement: To support a $40 billion market cap, NuScale must increase its 2025 revenue from $31.5 million to $1.7 billion, a daunting 54-fold increase, especially given the lack of actual sales.
- Slow Project Progress: While NuScale is advancing its partnership with ENTRA1 Energy to deploy 6GW of small modular reactors in Tennessee, it has yet to deploy a single reactor, adding to investor uncertainty.
- Profitability Comparison: Compared to Constellation Energy's $115 billion and GE Vernova's $290 billion market valuations, NuScale's lack of profitability and ongoing cash burn make its future market performance even more uncertain.
See More
NuScale Power's Growth Potential Over Next Five Years
- Market Opportunity: NuScale Power is pursuing a $10 trillion market opportunity, yet its slow project progress means the first operational plant may not be completed until 2030 at the earliest, which could impact its competitive position.
- Regulatory Advantage: As the first company to receive approval for a small modular reactor (SMR) design in the U.S., NuScale holds a competitive edge, but the lack of operational plants leaves the market in a wait-and-see mode regarding its future performance.
- Financial Challenges: In 2025, NuScale reported a net loss of $664 million, the largest in its history, forcing the company to sell large blocks of stock to fill financing gaps, significantly diluting shareholder equity.
- Project Progress: Although the 6-gigawatt project for the Tennessee Valley Authority is the largest SMR project in the U.S. and is set to begin construction by late 2028, NuScale has faced cancellations of large orders in the past, raising doubts about its ability to deliver on time.
See More
NuScale Power Price Target Cut Amid Analyst Caution
- Analyst Target Cuts: Northland has lowered NuScale Power's price target from $21 to $19 while maintaining an 'Outperform' rating, indicating a cautious outlook despite rising interest in nuclear energy.
- Retail Sentiment Surge: Retail chatter around NuScale has surged by 650% in the last 24 hours, reflecting investor focus on rival Oklo's upcoming results, even as the company faces significant revenue declines.
- Dramatic Revenue Drop: In its Q1 report, NuScale Power revealed a staggering 96% drop in revenue to $0.57 million, primarily due to timing issues with licensing agreements, resulting in a net loss of $0.14 per share, aligning with Wall Street expectations.
- Divergent Analyst Ratings: While Citi has cut its price target to $7 with a 'Sell' rating, NuScale's 12-month average price target stands at $16.50, suggesting a potential upside of about 24%, reflecting a long-term optimistic sentiment towards nuclear energy despite current challenges.
See More
NuScale Power: Massive Potential in Nuclear Market
- Massive Market Opportunity: NuScale Power currently has a market cap of $4.3 billion, and if shares were to rise by 1,000%, the market cap could reach $43 billion, highlighting its significant potential in the nuclear market amid rising global investment.
- Investment Growth Trend: According to Goldman Sachs, global investment in nuclear energy is projected to grow at a compound annual growth rate of 14% from 2020 to 2024, indicating a renewed focus on nuclear technology, with NuScale positioned at the forefront of this trend as a designer of small modular reactors.
- Unique Market Positioning: NuScale is the only operator in the U.S. with approved small modular reactor designs from the Nuclear Regulatory Commission, and while it has yet to construct any reactors, it is leading several major projects, including a 6-gigawatt initiative for the Tennessee Valley Authority.
- Long-Term Growth Potential: Goldman Sachs estimates a total addressable market of $1.1 trillion for small modular reactors by 2035, and despite facing competition and project volatility, NuScale has the potential to become a 10x stock, necessitating a long-term investment horizon for stakeholders.
See More
NASDAQ 100 Pre-Market Update: Active Stocks and Trends
- Market Performance: The NASDAQ 100 Pre-Market Indicator is down 40.56 points to 29,194.43, indicating cautious market sentiment that may influence short-term investor decisions.
- Active Stocks: Nokia Corporation (NOK) is up $0.27 to $13.09 with a trading volume of 6,532,196 shares, and the current mean recommendation is in the 'buy range', reflecting optimistic market expectations for its future performance.
- Earnings Forecast Revisions: Circle Internet Group, Inc. (CRCL) has risen $2.33 to $116.00, with three upward revisions in earnings forecasts over the past four weeks, projecting an EPS of $0.19 for the fiscal quarter ending June 2026, indicating strong market confidence in its growth potential.
- Target Price Analysis: Hims & Hers Health, Inc. (HIMS) is up $1.19 to $29.46, with its current price at 116.67% of the target price of $25.25, suggesting its market performance exceeds expectations and may attract more investor interest.
See More
NuScale Power Faces Critical Growth Opportunities Ahead
- Slow Nuclear Project Progress: NuScale Power is the only company in the U.S. to have received approval for a small modular reactor (SMR) design, yet despite 74 SMR projects under development globally, its first nuclear plant may not be operational until 2030, which could hinder its competitive edge in the market.
- Collaboration with TVA: NuScale is working on a 6-gigawatt utility-scale project with the Tennessee Valley Authority, set to begin construction by late 2028 and complete by 2032; if successful, this could significantly enhance the company's market position, but the market remains cautious about its ability to deliver on time.
- Worrisome Financials: In 2025, NuScale reported a net loss of $664 million, the largest in its history, forcing the company to sell large blocks of stock to fill financing gaps, resulting in a roughly 1500% increase in share count since going public, which dilutes existing shareholders' equity.
- Uncertain Future: The future trajectory of NuScale's stock will depend on its ability to successfully build reactors and secure funding without further diluting shareholders, with current market sentiment adopting a wait-and-see approach regarding its growth potential.
See More
NuScale Power Faces Growth Challenges Amidst Market Decline
- Market Performance Decline: NuScale Power's stock has plummeted from $57 last October to $12 today, reducing its market cap from approximately $17 billion to $4 billion, indicating market concerns over its future profitability.
- Revenue Growth Requirement: To support a $40 billion market cap, NuScale must increase its 2025 revenue from $31.5 million to $1.7 billion, a daunting 54-fold increase, especially given the lack of actual sales.
- Slow Project Progress: While NuScale is advancing its partnership with ENTRA1 Energy to deploy 6GW of small modular reactors in Tennessee, it has yet to deploy a single reactor, adding to investor uncertainty.
- Profitability Comparison: Compared to Constellation Energy's $115 billion and GE Vernova's $290 billion market valuations, NuScale's lack of profitability and ongoing cash burn make its future market performance even more uncertain.
See More
