New York, January 21, 2026, 12:46 ET — Regular session
NuScale Power shares dropped 2.5% to $18.52 on Wednesday, despite earlier surging to $21.08. The nuclear tech developer experienced a steep pullback amid heavy trading volume.
BlackRock disclosed owning 9.73 million NuScale Class A shares, roughly 3.4% of the company, in an amended Schedule 13G filing dated Jan. 21. The filing states the stake is held passively, with ownership figures reported as of Dec. 31. 1
On Tuesday, World Nuclear News highlighted a study from NuScale and Oak Ridge National Laboratory that analyzed the economics of pairing NuScale’s reactor modules with the steam and power needs of a U.S. chemical plant. Supported by a U.S. Department of Energy program, the research yielded encouraging findings. José Reyes, NuScale’s co-founder and Chief Technology Officer, emphasized that their modular design’s capability to deliver “high-temperature steam” gives industrial customers “unparalleled flexibility.” 2
Small modular reactors, or SMRs, are compact nuclear units designed for factory manufacture and on-site assembly. Developers say these reactors provide a way to deliver reliable, low-carbon electricity and industrial heat—sidestepping the long build times typical of large nuclear plants.
NuScale is zeroing in on industrial uses such as process heat and steam, aiming to meet investor calls for clearer short-term signals in the SMR sector. With a scarcity of solid customer contracts, traders frequently rely on studies and regulatory filings as proxies for actual developments.
Shares in broader nuclear-related companies saw movement Wednesday after Bank of America upgraded Oklo. Analyst Dimple Gosai pointed out that investors are searching for “tangible evidence” that advanced nuclear is progressing “from concept to execution.” 3
Remember, a 13G is merely a disclosure, not a commitment to retain shares. It typically appears once the buying is complete. The detailed work on the chemical plant, however, doesn’t amount to a signed contract.
The risks are clear: delays drag out schedules, costs rise, and buyers often stall on financing or permits. Just a hint of trouble in a project can quickly knock these stocks down.
Traders will focus on updates regarding follow-on institutional ownership, along with any announcements about customers or partners tied to industrial deployments. They’ll also watch for comments on whether companies can turn studies into practical projects.
NuScale will present next at the UBS Global Energy & Utilities Conference in London on March 17. 4
