NuScale Power Stock Plummets 75% Amid Customer Acquisition Challenges
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 31 2025
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Should l Buy SMR?
Source: Fool
- Stock Plunge: NuScale Power's stock has fallen from a peak of $57 to approximately $14, representing a 75% decline, which reflects market concerns about its future prospects, particularly amid fears of an AI bubble.
- Performance Loss: The company reported a larger-than-expected net loss of $532 million in its most recent quarter, and while it holds about $754 million in cash and equivalents, approximately $475 million of that came from selling 13.2 million shares, indicating financial pressure.
- Customer Acquisition Challenges: Despite being the only U.S. reactor developer with Nuclear Regulatory Commission design certification for a small modular reactor, NuScale has yet to secure its first major deal, and the absence of customers has heavily impacted its valuation.
- Share Dilution Risk: In December, shareholders approved increasing the number of authorized shares from 332 million to 662 million, which, while not immediately resulting in new shares being issued, provides the company with flexibility to raise capital if needed, thereby increasing potential dilution risks for existing shareholders.
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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: 10.260
Low
18.50
Averages
32.77
High
60.00
Current: 10.260
Low
18.50
Averages
32.77
High
60.00
About SMR
NuScale Power Corporation is a provider of proprietary advanced small modular reactor nuclear technology. The NuScale Power Module, the Company's SMR technology, is a small pressurized water reactor that can generate 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 governments, political subdivisions, state-owned enterprises, investor-owned utilities and other technology and industrial companies, both in domestic and international markets.
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.
Nuclear Energy Market Resurgence and Investment Opportunities
- Growing Nuclear Demand: According to Bank of America research, U.S. electrical demand is projected to grow at an annual rate of 2.5% over the next decade, five times faster than the previous decade, highlighting the increasing importance of nuclear energy as a clean energy source.
- NuScale's Technological Progress: NuScale Power is developing small modular reactor technology, with each module generating 77 megawatts of electricity and capable of being deployed in clusters of up to 12 for a total output of 924 megawatts, although commercial deployment will take several years.
- BWX's Market Position: BWX Technologies serves as the sole provider of nuclear fuel for the U.S. Navy, with government contract revenue reaching $2.35 billion in 2025, accounting for 73.4% of total revenue, underscoring its critical role in national security.
- Investment Outlook Comparison: While NuScale Power shows potential in nuclear technology, BWX Technologies is viewed as a better investment due to its 50% backlog growth to $7.3 billion, indicating stronger long-term revenue visibility.
See More
Nuclear Energy Resurgence: Investment Outlook for NuScale and BWX
- Growing Power Demand: According to Bank of America research, U.S. electrical demand is projected to grow at an annual rate of 2.5% over the next decade, five times faster than the previous decade, which has drawn attention to nuclear stocks, particularly NuScale and BWX Technologies.
- NuScale's Technological Innovation: NuScale Power's modular reactor technology produces 77 megawatts of electricity per module, with the potential to combine up to 12 modules for a total output of 924 megawatts; while its commercialization is slow, the technology could revolutionize nuclear energy deployment.
- BWX's Government Partnerships: BWX Technologies is the sole supplier of nuclear fuel for the U.S. Navy, with its government business contributing $2.35 billion to its revenue in 2025, highlighting its critical role in national security and providing a stable long-term revenue stream.
- Investment Outlook Comparison: While NuScale has innovative potential in nuclear technology, BWX is seen as the better investment currently due to a 50% increase in backlog to $7.3 billion, indicating strong market demand and visibility into future earnings.
See More
NuScale Power Faces Class Action Lawsuit
- Class Action Filed: Pomerantz LLP has announced a class action lawsuit against NuScale Power, alleging securities fraud or other unlawful business practices by the company and certain officers, with investors advised to apply as Lead Plaintiff by April 20, 2026.
- Expense Surge: In Q3 2025, NuScale's general and administrative expenses skyrocketed over 3,000% to $519 million, primarily due to a $495 million payment to ENTRA1 Energy LLC, resulting in a quarterly net loss of $532 million, up from $46 million the previous year.
- Market Reaction: Following the financial disclosures, NuScale's stock price plummeted by $7.57, or 19.97%, over the next two trading sessions, closing at $30.34 per share, indicating investor concerns about the company's financial health.
- Project Potential: The agreement with ENTRA1 could involve up to 72 NPMs, suggesting that NuScale's milestone payments could exceed $3 billion, highlighting both the potential rewards and risks associated with this ambitious energy project.
See More
NuScale Power Faces Securities Fraud Class Action Lawsuit
- Lawsuit Background: NuScale Power Corporation (NYSE: SMR) is facing a securities fraud class action lawsuit for alleged material misstatements regarding its commercialization strategy for nuclear energy projects during the period from May 13 to November 6, 2025, which has shaken investor confidence.
- Financial Losses: In Q3 2025, NuScale's general and administrative expenses surged over 3,000% to $519 million, resulting in a quarterly net loss of $532 million, a significant increase from $46 million in the same period last year, directly impacting its stock performance.
- Stock Price Volatility: On November 6, 2025, NuScale's stock price dropped by $5.45, or approximately 14.4%, closing at $32.46 from $37.91 the previous day, reflecting market concerns over the company's financial health.
- Investor Action: Affected investors have until April 20, 2026, to apply for lead plaintiff status, encouraged to contact Kessler Topaz Meltzer & Check, LLP for legal support, indicating the company's recognition of investor rights and potential legal liabilities.
See More
Multiple Companies Face Class Action Lawsuits
- Kyndryl Lawsuit Overview: Kyndryl Holdings, Inc. faces a class action lawsuit for materially misstated financial statements and inadequate internal controls during the period from August 2024 to February 2026, which severely undermines investor confidence and could negatively impact its stock performance.
- PayPal Lawsuit Details: PayPal Holdings, Inc. is accused in a class action lawsuit from February 2025 to February 2026 of overstating its business execution capabilities and dismissing competitive concerns, leading to a decline in investor trust and potential adverse effects on its market share.
- NuScale Lawsuit Background: NuScale Power Corporation is facing a class action lawsuit for failing to disclose significant risks associated with its nuclear projects during the period from May 2025 to November 2025, which could jeopardize its commercialization strategy and affect future financing and project timelines.
- Corcept Lawsuit Issues: Corcept Therapeutics Incorporated is under scrutiny in a class action lawsuit from October 2024 to January 2026 for not meeting FDA requirements regarding the effectiveness assessment of its drug, which may lead to significant review challenges for its new drug application and impact the company's future competitiveness.
See More
NuScale Power Faces Class Action Lawsuit for Securities Fraud
- Lawsuit Background: Bleichmar Fonti & Auld LLP has announced a class action lawsuit against NuScale Power and its executives for securities fraud, resulting in a significant stock drop of 12.4% on November 10, 2025, from $32.46 to $28.43, reflecting serious investor concerns over the company's financial transparency.
- Financial Misrepresentation: NuScale's general and administrative expenses surged to $519 million in Q3 2025, primarily due to a $495 million payment to ENTRA1 for services, indicating major financial management failures that could undermine future investor confidence.
- False Claims of Experience: The lawsuit alleges that NuScale misrepresented ENTRA1's capabilities as an independent power plant development platform, while ENTRA1 had only three employees and had never successfully built or operated any nuclear power projects, potentially leading investors to misjudge the company's prospects.
- Legal Implications: Investors have until April 20, 2026, to apply to lead the case, and if the lawsuit succeeds, it could result in significant financial compensation for NuScale's shareholders, further impacting the company's market reputation and shareholder trust.
See More
Nuclear Energy Market Resurgence and Investment Opportunities
- Growing Nuclear Demand: According to Bank of America research, U.S. electrical demand is projected to grow at an annual rate of 2.5% over the next decade, five times faster than the previous decade, highlighting the increasing importance of nuclear energy as a clean energy source.
- NuScale's Technological Progress: NuScale Power is developing small modular reactor technology, with each module generating 77 megawatts of electricity and capable of being deployed in clusters of up to 12 for a total output of 924 megawatts, although commercial deployment will take several years.
- BWX's Market Position: BWX Technologies serves as the sole provider of nuclear fuel for the U.S. Navy, with government contract revenue reaching $2.35 billion in 2025, accounting for 73.4% of total revenue, underscoring its critical role in national security.
- Investment Outlook Comparison: While NuScale Power shows potential in nuclear technology, BWX Technologies is viewed as a better investment due to its 50% backlog growth to $7.3 billion, indicating stronger long-term revenue visibility.
See More
Nuclear Energy Resurgence: Investment Outlook for NuScale and BWX
- Growing Power Demand: According to Bank of America research, U.S. electrical demand is projected to grow at an annual rate of 2.5% over the next decade, five times faster than the previous decade, which has drawn attention to nuclear stocks, particularly NuScale and BWX Technologies.
- NuScale's Technological Innovation: NuScale Power's modular reactor technology produces 77 megawatts of electricity per module, with the potential to combine up to 12 modules for a total output of 924 megawatts; while its commercialization is slow, the technology could revolutionize nuclear energy deployment.
- BWX's Government Partnerships: BWX Technologies is the sole supplier of nuclear fuel for the U.S. Navy, with its government business contributing $2.35 billion to its revenue in 2025, highlighting its critical role in national security and providing a stable long-term revenue stream.
- Investment Outlook Comparison: While NuScale has innovative potential in nuclear technology, BWX is seen as the better investment currently due to a 50% increase in backlog to $7.3 billion, indicating strong market demand and visibility into future earnings.
See More
NuScale Power Faces Class Action Lawsuit
- Class Action Filed: Pomerantz LLP has announced a class action lawsuit against NuScale Power, alleging securities fraud or other unlawful business practices by the company and certain officers, with investors advised to apply as Lead Plaintiff by April 20, 2026.
- Expense Surge: In Q3 2025, NuScale's general and administrative expenses skyrocketed over 3,000% to $519 million, primarily due to a $495 million payment to ENTRA1 Energy LLC, resulting in a quarterly net loss of $532 million, up from $46 million the previous year.
- Market Reaction: Following the financial disclosures, NuScale's stock price plummeted by $7.57, or 19.97%, over the next two trading sessions, closing at $30.34 per share, indicating investor concerns about the company's financial health.
- Project Potential: The agreement with ENTRA1 could involve up to 72 NPMs, suggesting that NuScale's milestone payments could exceed $3 billion, highlighting both the potential rewards and risks associated with this ambitious energy project.
See More
NuScale Power Faces Securities Fraud Class Action Lawsuit
- Lawsuit Background: NuScale Power Corporation (NYSE: SMR) is facing a securities fraud class action lawsuit for alleged material misstatements regarding its commercialization strategy for nuclear energy projects during the period from May 13 to November 6, 2025, which has shaken investor confidence.
- Financial Losses: In Q3 2025, NuScale's general and administrative expenses surged over 3,000% to $519 million, resulting in a quarterly net loss of $532 million, a significant increase from $46 million in the same period last year, directly impacting its stock performance.
- Stock Price Volatility: On November 6, 2025, NuScale's stock price dropped by $5.45, or approximately 14.4%, closing at $32.46 from $37.91 the previous day, reflecting market concerns over the company's financial health.
- Investor Action: Affected investors have until April 20, 2026, to apply for lead plaintiff status, encouraged to contact Kessler Topaz Meltzer & Check, LLP for legal support, indicating the company's recognition of investor rights and potential legal liabilities.
See More
Multiple Companies Face Class Action Lawsuits
- Kyndryl Lawsuit Overview: Kyndryl Holdings, Inc. faces a class action lawsuit for materially misstated financial statements and inadequate internal controls during the period from August 2024 to February 2026, which severely undermines investor confidence and could negatively impact its stock performance.
- PayPal Lawsuit Details: PayPal Holdings, Inc. is accused in a class action lawsuit from February 2025 to February 2026 of overstating its business execution capabilities and dismissing competitive concerns, leading to a decline in investor trust and potential adverse effects on its market share.
- NuScale Lawsuit Background: NuScale Power Corporation is facing a class action lawsuit for failing to disclose significant risks associated with its nuclear projects during the period from May 2025 to November 2025, which could jeopardize its commercialization strategy and affect future financing and project timelines.
- Corcept Lawsuit Issues: Corcept Therapeutics Incorporated is under scrutiny in a class action lawsuit from October 2024 to January 2026 for not meeting FDA requirements regarding the effectiveness assessment of its drug, which may lead to significant review challenges for its new drug application and impact the company's future competitiveness.
See More
NuScale Power Faces Class Action Lawsuit for Securities Fraud
- Lawsuit Background: Bleichmar Fonti & Auld LLP has announced a class action lawsuit against NuScale Power and its executives for securities fraud, resulting in a significant stock drop of 12.4% on November 10, 2025, from $32.46 to $28.43, reflecting serious investor concerns over the company's financial transparency.
- Financial Misrepresentation: NuScale's general and administrative expenses surged to $519 million in Q3 2025, primarily due to a $495 million payment to ENTRA1 for services, indicating major financial management failures that could undermine future investor confidence.
- False Claims of Experience: The lawsuit alleges that NuScale misrepresented ENTRA1's capabilities as an independent power plant development platform, while ENTRA1 had only three employees and had never successfully built or operated any nuclear power projects, potentially leading investors to misjudge the company's prospects.
- Legal Implications: Investors have until April 20, 2026, to apply to lead the case, and if the lawsuit succeeds, it could result in significant financial compensation for NuScale's shareholders, further impacting the company's market reputation and shareholder trust.
See More
