NuScale Power Stock Plummets 26.5% Amid Project Delays
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 08 2026
0mins
Source: Fool
- Significant Stock Decline: NuScale Power's stock plummeted 26.5% in February, erasing all prior gains and trading nearly 18% lower in 2026, indicating extreme market pessimism regarding its future prospects.
- Project Delay Risks: TD Cowen analyst Marc Bianchi downgraded NuScale's rating from buy to hold, warning that its flagship project in Romania could be delayed until 2034, which undermined investor confidence and exacerbated the stock's decline.
- Increased Financial Pressure: NuScale reported an operating loss of nearly $690 million in its Q4 2025 results, a significant increase from a $139 million loss in 2024, while also incurring a $507.4 million milestone payment, further straining its finances.
- Shareholder Sell-off Impact: NuScale's largest shareholder, Fluor, has been consistently selling shares with plans to exit entirely by the end of Q2 this year, having sold 71 million shares at around $19.05 each on February 13, reflecting market concerns about the company's outlook.
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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: 12.190
Low
18.50
Averages
32.77
High
60.00
Current: 12.190
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 Faces Cash Challenges Amid SMR Projects
- Unique Market Position: NuScale Power stands as the only nuclear company in the U.S. with an NRC-approved small modular reactor (SMR) design, maintaining a significant market position despite cash challenges, which could play a crucial role in the future nuclear energy landscape.
- Slow Project Progress: The company is collaborating with a Romanian utility to replace a former coal site with a 462-megawatt power plant and plans to deploy 6 gigawatts of SMR technology in Tennessee through ENTRA1, but delays in project completion until after 2030 hinder revenue growth potential.
- Poor Financial Health: With first-quarter revenue at only $565,000 and an operating loss of $57 million, NuScale's market value of $4.5 billion seems unreasonable despite having around $1 billion in liquidity, prompting investors to exercise caution.
- Investor Confidence Lacking: Despite rising nuclear energy demand, NuScale's stock has plummeted 65% from last year and failed to make it onto The Motley Fool's list of top stocks, reflecting market concerns about its future performance and potentially leading investors to adopt a wait-and-see approach.
See More
Nuclear Power's Synergy with AI Growth
- Nuclear Resurgence: From 2005 to 2023, U.S. electricity generation remained flat, but new all-time highs are expected in 2024 and 2025, driven by the rapid growth of the AI industry, which is increasing electricity demand and positioning nuclear energy as a viable solution.
- Oklo's Market Positioning: Oklo focuses on small modular reactors (SMRs), with its 'microreactor' design enabling local deployment in data centers, and a streamlined licensing and deployment timeline of just 6 to 12 months enhances its competitive edge in the market.
- NuScale's Strategic Approach: NuScale is pursuing grid-scale deployments, exemplified by its 6-gigawatt system agreement with the Tennessee Valley Authority, with a power purchase agreement expected to close by year-end, solidifying its position in the low-carbon power sector.
- Diversification Investment Advice: Given the differing market strategies of Oklo and NuScale, investors may achieve diversified exposure by purchasing shares of both, although NuScale was not recommended as a top investment choice by The Motley Fool.
See More
Nuclear Energy's Resurgence Driven by AI Demand
- Surging Nuclear Demand: The rapid growth of the AI industry is expected to sustain increased electricity demand for decades, with U.S. electricity generation projected to hit an all-time high in 2024, highlighting nuclear energy's potential as a solution.
- Oklo's Market Positioning: Oklo focuses on small modular reactors (SMRs), with its microreactor design making it an ideal choice for data centers, and once fully scaled, the licensing and deployment timeline is expected to be just six to twelve months.
- NuScale's Strategic Advantage: NuScale Power is focused on grid-scale deployments, exemplified by its agreement with the Tennessee Valley Authority for a 6-gigawatt system, with a power purchasing agreement anticipated to be finalized by year-end, further solidifying its market position.
- Diverse Competitive Landscape: Oklo enhances its market competitiveness through the acquisition of Atomic Alchemy for fuel recycling, while NuScale meets utilities' needs for low-carbon, reliable baseload power, showcasing different strategic directions in the nuclear energy market.
See More
NuScale Power Rated Among Top Nuclear Stocks by Analysts
- Analyst Coverage Reinstated: On May 22, BofA reinstated coverage of NuScale Power Corporation (NYSE:SMR) with a 'Neutral' rating and a price target of $12, indicating a cautious outlook on its market performance.
- Significant Technical Advantage: NuScale is the only company with U.S. Nuclear Regulatory Commission Standard Design Approval, providing a regulatory edge that enhances its competitive position in the small modular reactor technology sector.
- Revenue Constraints: Despite the significant potential of NuScale's technology, its revenues remain heavily tied to services, with the first reactor not expected to generate power until the early 2030s, limiting its short-term financial performance.
- Funding Risks Present: The deployment of SMR requires substantial upfront capital, and NuScale's slower progress in securing funding agreements compared to peers poses a near-term funding risk that could impact its market standing.
See More
NuScale Power: The Future of Small Modular Reactors
- Market Outlook: NuScale Power has a market capitalization of approximately $4.5 billion, with a current share price of $12.64, reflecting a 65% decline from last year, indicating market skepticism about its future profitability despite being the only nuclear reactor developer in the U.S. with an NRC-approved SMR design.
- Project Development Progress: The company is collaborating with a Romanian utility to replace a former coal site with a 462-megawatt power plant, and is expected to deploy 6 gigawatts of SMR technology for the Tennessee Valley Authority by 2030, although these projects have yet to generate revenue.
- Financial Overview: NuScale reported first-quarter revenue of approximately $565,000 and an operating loss of $57 million; despite having around $1 billion in liquidity, the lack of revenue makes its market valuation seem unreasonable, leading investors to adopt a cautious stance.
- Competitive Landscape: While NuScale holds a first-mover advantage over competitors like Oklo and Bloom Energy in small modular reactor development, the absence of significant sales raises concerns about investor confidence in its future growth potential.
See More
Emerging Competitors in the Nuclear Energy Sector
- Market Opportunity: Bank of America estimates the nuclear energy market could be worth $10 trillion, with Oklo and NuScale Power driving a resurgence in nuclear technology expected to yield significant growth over the coming decades.
- Business Model Differences: Oklo focuses on providing reliable power to data centers through power purchase agreements, while NuScale partners with ENTRA1 to sell its small modular reactor technology, offering global market opportunities despite a more complex model.
- Client Appeal: Oklo's direct approach allows it to meet data center demands more rapidly, having established significant partnerships with clients like Equinix, Switch, and Meta Platforms, whereas NuScale has yet to secure major deals with large data centers.
- Regulatory Risk Considerations: While Oklo's business model is more appealing, it lacks NRC approval for its reactor designs, whereas NuScale can leverage partners to manage the complexities of nuclear projects, providing greater regulatory certainty.
See More
NuScale Power Faces Cash Challenges Amid SMR Projects
- Unique Market Position: NuScale Power stands as the only nuclear company in the U.S. with an NRC-approved small modular reactor (SMR) design, maintaining a significant market position despite cash challenges, which could play a crucial role in the future nuclear energy landscape.
- Slow Project Progress: The company is collaborating with a Romanian utility to replace a former coal site with a 462-megawatt power plant and plans to deploy 6 gigawatts of SMR technology in Tennessee through ENTRA1, but delays in project completion until after 2030 hinder revenue growth potential.
- Poor Financial Health: With first-quarter revenue at only $565,000 and an operating loss of $57 million, NuScale's market value of $4.5 billion seems unreasonable despite having around $1 billion in liquidity, prompting investors to exercise caution.
- Investor Confidence Lacking: Despite rising nuclear energy demand, NuScale's stock has plummeted 65% from last year and failed to make it onto The Motley Fool's list of top stocks, reflecting market concerns about its future performance and potentially leading investors to adopt a wait-and-see approach.
See More
Nuclear Power's Synergy with AI Growth
- Nuclear Resurgence: From 2005 to 2023, U.S. electricity generation remained flat, but new all-time highs are expected in 2024 and 2025, driven by the rapid growth of the AI industry, which is increasing electricity demand and positioning nuclear energy as a viable solution.
- Oklo's Market Positioning: Oklo focuses on small modular reactors (SMRs), with its 'microreactor' design enabling local deployment in data centers, and a streamlined licensing and deployment timeline of just 6 to 12 months enhances its competitive edge in the market.
- NuScale's Strategic Approach: NuScale is pursuing grid-scale deployments, exemplified by its 6-gigawatt system agreement with the Tennessee Valley Authority, with a power purchase agreement expected to close by year-end, solidifying its position in the low-carbon power sector.
- Diversification Investment Advice: Given the differing market strategies of Oklo and NuScale, investors may achieve diversified exposure by purchasing shares of both, although NuScale was not recommended as a top investment choice by The Motley Fool.
See More
Nuclear Energy's Resurgence Driven by AI Demand
- Surging Nuclear Demand: The rapid growth of the AI industry is expected to sustain increased electricity demand for decades, with U.S. electricity generation projected to hit an all-time high in 2024, highlighting nuclear energy's potential as a solution.
- Oklo's Market Positioning: Oklo focuses on small modular reactors (SMRs), with its microreactor design making it an ideal choice for data centers, and once fully scaled, the licensing and deployment timeline is expected to be just six to twelve months.
- NuScale's Strategic Advantage: NuScale Power is focused on grid-scale deployments, exemplified by its agreement with the Tennessee Valley Authority for a 6-gigawatt system, with a power purchasing agreement anticipated to be finalized by year-end, further solidifying its market position.
- Diverse Competitive Landscape: Oklo enhances its market competitiveness through the acquisition of Atomic Alchemy for fuel recycling, while NuScale meets utilities' needs for low-carbon, reliable baseload power, showcasing different strategic directions in the nuclear energy market.
See More
NuScale Power Rated Among Top Nuclear Stocks by Analysts
- Analyst Coverage Reinstated: On May 22, BofA reinstated coverage of NuScale Power Corporation (NYSE:SMR) with a 'Neutral' rating and a price target of $12, indicating a cautious outlook on its market performance.
- Significant Technical Advantage: NuScale is the only company with U.S. Nuclear Regulatory Commission Standard Design Approval, providing a regulatory edge that enhances its competitive position in the small modular reactor technology sector.
- Revenue Constraints: Despite the significant potential of NuScale's technology, its revenues remain heavily tied to services, with the first reactor not expected to generate power until the early 2030s, limiting its short-term financial performance.
- Funding Risks Present: The deployment of SMR requires substantial upfront capital, and NuScale's slower progress in securing funding agreements compared to peers poses a near-term funding risk that could impact its market standing.
See More
NuScale Power: The Future of Small Modular Reactors
- Market Outlook: NuScale Power has a market capitalization of approximately $4.5 billion, with a current share price of $12.64, reflecting a 65% decline from last year, indicating market skepticism about its future profitability despite being the only nuclear reactor developer in the U.S. with an NRC-approved SMR design.
- Project Development Progress: The company is collaborating with a Romanian utility to replace a former coal site with a 462-megawatt power plant, and is expected to deploy 6 gigawatts of SMR technology for the Tennessee Valley Authority by 2030, although these projects have yet to generate revenue.
- Financial Overview: NuScale reported first-quarter revenue of approximately $565,000 and an operating loss of $57 million; despite having around $1 billion in liquidity, the lack of revenue makes its market valuation seem unreasonable, leading investors to adopt a cautious stance.
- Competitive Landscape: While NuScale holds a first-mover advantage over competitors like Oklo and Bloom Energy in small modular reactor development, the absence of significant sales raises concerns about investor confidence in its future growth potential.
See More
Emerging Competitors in the Nuclear Energy Sector
- Market Opportunity: Bank of America estimates the nuclear energy market could be worth $10 trillion, with Oklo and NuScale Power driving a resurgence in nuclear technology expected to yield significant growth over the coming decades.
- Business Model Differences: Oklo focuses on providing reliable power to data centers through power purchase agreements, while NuScale partners with ENTRA1 to sell its small modular reactor technology, offering global market opportunities despite a more complex model.
- Client Appeal: Oklo's direct approach allows it to meet data center demands more rapidly, having established significant partnerships with clients like Equinix, Switch, and Meta Platforms, whereas NuScale has yet to secure major deals with large data centers.
- Regulatory Risk Considerations: While Oklo's business model is more appealing, it lacks NRC approval for its reactor designs, whereas NuScale can leverage partners to manage the complexities of nuclear projects, providing greater regulatory certainty.
See More
