NuScale Power Corporation Class A (SMR)

The past six months have seen significant volatility and negative events impacting NuScale Power's stock price, with an 80% drop from its 2025 highs. Multiple securities fraud class-action lawsuits were filed in late March 2026, alleging misrepresentations about NuScale's key commercialization partner, ENTRA1 Energy, leading to a stock plunge. The company reported a year-over-year revenue decline and missed EPS expectations, with significant losses. The RoPower project in Romania is now expected to be delayed. Several analysts have downgraded the stock and slashed price targets. NuScale Power insiders have engaged in significant selling activity. The termination of the Carbon Free Power Project (CFPP) in Idaho had a substantial negative impact on investor confidence and the stock price.

Demand for NuScale Power's products and services is not typically subject to seasonal fluctuations. The development and construction of nuclear power facilities are long-term projects driven by energy policy, decarbonization goals, and industrial demand rather than seasonal consumer patterns. The company's revenue primarily stems from engineering and licensing services as it transitions from a research and development phase to commercialization, which are not inherently seasonal activities.

NuScale Power Corp. is an American company focused on designing and marketing small modular reactors (SMRs) to provide safe, scalable, and reliable carbon-free power. The company operates in the Capital Goods sector, specifically the Heavy Electrical Equipment and Nuclear Power industries. Its core product, the NuScale Power Module (NPM), is a light water nuclear reactor capable of generating 77 megawatts of electricity and is the only SMR design certified by the U.S. Nuclear Regulatory Commission (NRC). NuScale's SMR technology is integrated into its VOYGR™ power plants, which are designed for modularity and scalability, and offered in various configurations. The company also provides comprehensive plant services, including regulatory licensing support, design, development, construction, operation, and maintenance support and has a strategic partnership with ENTRA1 Energy.

NuScale Power is headquartered in Tigard, Oregon, with additional offices in Corvallis, Oregon; Charlotte, North Carolina; and Rockville, Maryland. The company also maintains a test facility at Oregon State University and in Italy. Internationally, NuScale has ongoing projects and agreements in Romania and Poland. There are also discussions and agreements for potential projects in Ghana and Tennessee. Previously, NuScale had an agreement to build reactors at the Idaho National Laboratory for the Utah Associated Municipal Power Systems (UAMPS), but this Carbon Free Power Project (CFPP) was canceled.

NuScale Power's brand reputation in the past year has been significantly challenged by several negative events. The class-action lawsuit alleging misrepresentation regarding its commercialization partner, ENTRA1 Energy, damaged NuScale's credibility. The termination of the CFPP was a significant blow to investor confidence. Disappointing financial results and the delay of the Romanian project have further fueled negative sentiment.

NuScale Power Corporation has a diverse ownership structure. There are 480 institutional owners and shareholders holding a total of 129,436,550 shares. Major Institutional Owners include Vanguard Group Inc., Van Eck Associates Corp., and BlackRock, Inc. Fluor Corp. is also a major institutional shareholder. Fluor Corp. is the largest individual/insider shareholder. Retail investors collectively possess a significant stake.