SMR
NYSEAnalystsHold15+111%NuScale Power Corporation stock
Industrials · Construction & Engineering
$5.08last close
-84.3%~252d
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Price
-84.35% over 1YVideo teardown
A walkthrough of this page: the numbers, the levels, and where it sits.
Thesis
as of 2026-11-08
Bull case
Regulatory moat, no customer yet:
- Only NRC-approved SMR design in the US (US460, 77 MWe modules, Standard Design Approval May 2025). Competitors still face multi-year licensing; NuScale has already passed that gate.
- The 6 GW TVA pathway - ENTRA1 and TVA announced a program for up to 6 GW of NuScale plants in Sept 2025. It is still at the power-purchase-agreement discussion stage (Q2 2026 update); a signed PPA is the one catalyst that changes the story.
- Cash to wait: $1.9B of cash and investments at 2026-06-30, after $984.5M of net equity raised in H1.
- Priced near the lows: $8.42 on 2026-09-25, -78% over 12 months, 52-week range $7.21-$57.42.
Bear case
- No firm order. Q2 2026 revenue was $75K; the Romanian RoPower project finished its FEED phase in late 2025 and analysts have floated a slip to 2034.
- The ENTRA1 model costs money up front: a $507.4M milestone payment in Q4 2025 (quarterly operating loss ~$690M), fees owed without guaranteed revenue, and investor class actions over how the arrangement was presented.
- Burn and dilution: $372.9M of operating cash outflow in H1 2026; UBS projects ~$700M of negative free cash flow over 2026-2028, other estimates nearer $1B.
- Losing the first-mover narrative: UBS cut to Sell with a $6 target on 2026-09-11 (stock -15.7% that day), arguing faster competitors (Oklo, X-energy, TerraPower, GE-Hitachi) are catching up. Fluor, the anchor holder, is gone.
- 2020-08 - NRC design approval of the original 50 MWe US600 design (certified 2023)
- 2023-11 - UAMPS Carbon Free Power Project cancelled on cost escalation
- 2025-05 - NRC Standard Design Approval of the uprated US460 (77 MWe modules, 462 MWe 6-module plant)
- 2025-09 - ENTRA1 Energy and TVA announce a program for up to 6 GW of NuScale plants (no PPA signed as of Q2 2026)
- 2025-Q4 - RoPower (Doicesti, Romania, 6 modules) FEED Phase 2 completed; $507.4M milestone payment to ENTRA1
- 2026-04 - Fluor completes the sale of its entire NuScale stake (~$2.4B of proceeds)
- 2026-Q2 - Paragon contract to complete the HIPS safety-system design for the power module
- 2026-09-11 - UBS downgrade to Sell, target $6; law-firm investigations follow
customersENTRA1 Energy (exclusive commercialization partner) · TVA (6 GW program, PPA under discussion) · RoPower Nuclear (Romania)
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Analyze SMRinteractive tools
Bubblescapital-flow co-movement
Themeseditorial groupings
Top correlated252d co-movement
- OKLONuclear / SMR0.87
- NNENuclear / SMR0.83
- LTBRNuclear / SMR0.82
- LEUNuclear / SMR0.77
- UECNuclear / SMR0.73
- RGTIQuantum0.72
- QBTSQuantum0.72
- UUUUNuclear / SMR0.72
Related research
Long-form analysis touching SMR
- 4 minNuScale (SMR) Q3 2026: $0.3M of revenue, a first module in fabrication, still no TVA contractNuScale posted revenue of $281K and a net loss of $45.7M, with $1.9B of cash and investments. Doosan will fabricate the upper reactor coolant system of the first commercial module; the ENTRA1 and TVA program is still in dialogue.
- 10 minNANO Nuclear (NNE): what it does, how it pays for itself, and why the cash is the storyA microreactor developer with about $580M of cash and investments, $214K of trailing revenue and a stock about 79% under its high. What NANO Nuclear does, how it funds itself, where it sits.
- 8 minLightbridge (LTBR): what it does, how it pays its bills, and why it trades below cashA nuclear fuel developer with no revenue, $237.5M of cash and no debt at June 30, valued at about $179M by the market: an 82% drawdown that prices the fuel below zero. What Lightbridge does.
- 9 minBWX Technologies (BWXT): what it does, how it makes money, and why it is no uranium stockThe sole builder of US Navy nuclear reactors, an $8.4B backlog up 40% in a year, a raised 2026 guide, and a stock about 45% under its high. What BWXT does and where it sits in the nuclear theme.
Recent news
High-signal only
- MarketBeat6h agoWhat NuScale Power (SMR) Said on Its Q3 Earnings Call
- Trefis1d agobullishWhat Needs To Be True To Buy NuScale Power Stock Now?
- TIKR2d agoNuScale: We’re “Not Reliant on Data Centers”
- 24/7 Wall St.2d agobullishOklo Jumps 19% on Narrower-Than-Expected Loss as Nuclear Stocks Rebound; NuScale Power Surges 15%, Nano Nuclear Energy Jumps 9%
- Zacks2d agoSMR Q3 Earnings Call Highlights Shift to Module Manufacturing
- GuruFocus.com2d agoNuScale Power Corp (SMR) (Q3 2026) Earnings Call Highlights: First Article Production Begins as ...
- Motley Fool2d agoNuScale Power (SMR) Q3 2026 Earnings Call Transcript
- Zacks3d agoNuScale Power Corporation (SMR) Reports Q3 Loss, Lags Revenue Estimates
Held by ETFs
- URAGlobal X Uranium ETF2.81%
Key levels
- -55.3%$11.370.786 retr of 4.28->37.41 (52w) · 2026-11-06Out of reach · reference only
- -70.0%$16.930.618 retr of 4.28->37.41 (52w) · 2026-11-06Out of reach · reference only
- -75.6%$20.840.5 retr of 4.28->37.41 (52w) · 2026-11-06Out of reach · reference only
- -79.5%$24.750.382 retr of 4.28->37.41 (52w) · 2026-11-06Out of reach · reference only
Price has moved beyond every level on record here. They are kept as structural reference, not as an entry map.
Facts
- Exchange
- NYSE
- Currency
- USD
- Market cap
- $2.09B
- Last update
- 2026-11-06
Revenue (TTM)$3M
P/E -
P/S764.2×
Net margin0.0%
Frequently asked questions
- Is SMR in URA?
- Yes, Global X Uranium ETF (URA) holds SMR with 2.81% (as of 2026-11-04).
- What ETFs hold SMR?
- NuScale Power Corporation (SMR) is held by URA (2.81%).
- What AI bubble is SMR in?
- NuScale Power Corporation (SMR) is mapped to the Nuclear / SMR bubble on QuantAbundance. Pure-play SMR.
- What sector is SMR in?
- NuScale Power Corporation is classified under GICS Industrials (Construction & Engineering).
- What is SMR's last close price?
- SMR last closed at $5.08 on 2026-11-06.