NEW YORK — As of 12:27 a.m. ET on Saturday, December 27, 2025, U.S. stock exchanges are closed for the weekend, leaving investors to digest Friday’s moves and line up the next set of catalysts for Monday’s reopening.
NuScale Power stock price today: where SMR stands heading into the next session
NuScale Power Corporation (NYSE: SMR) was last indicated around $14.85 in the latest available quote, after a volatile Friday session that saw heavy trading and a sharp drop versus the prior close. MarketBeat
Here’s the snapshot investors are focused on going into Monday:
- Last indicated price: about $14.85
- Prior close referenced by market coverage:$16.08 MarketBeat
- Friday range: roughly $14.75 to $16.00
- Volume: about 24.9 million shares (notably active for a year‑end session)
SMR’s decline stood out because the broader market barely moved: the Dow, S&P 500, and Nasdaq finished Friday only slightly lower in thin, post‑holiday trading. Reuters
The bigger tape: “Santa Claus rally” conditions, rate‑cut focus, and thin liquidity
Friday’s market action had all the classic late‑December quirks: very light volumes, a market sitting near record levels, and investors trying to read whether the seasonal “Santa Claus rally” period keeps its historical tailwind. Reuters
Reuters quoted Ryan Detrick (Carson Group) describing the backdrop as the market “catching our breath” after a strong run, with the Santa Claus window still in play. Reuters
Looking into the holiday‑shortened, year‑end stretch, Reuters also flagged several macro drivers that can move risk appetite quickly—especially for high‑beta stocks like SMR:
- Fed minutes due Tuesday may shed more light on the rate outlook. Reuters
- Investors remain focused on the path of future rate cuts, after the Fed’s 2025 reductions left the benchmark rate at 3.50%–3.75% (per Reuters). Reuters
- Year‑end positioning can amplify volatility because low liquidity can exaggerate price moves. Reuters
That last point matters for NuScale in particular: the stock has a history of outsized swings, and big one‑day moves can happen when there aren’t many natural buyers and sellers around the tape.
Why NuScale (SMR) has been so volatile: dilution math and shareholder overhang are front and center
NuScale’s long‑term story is “advanced nuclear meets AI‑era power demand.” But the near‑term stock debate is often more mechanical: how the company funds itself between now and first large deployments.
Two company‑linked factors are difficult for the market to ignore:
1) Fluor’s planned stake monetization (a known overhang)
On November 6, 2025, NuScale and Fluor announced an agreement outlining the conversion and structured monetization of Fluor’s remaining stake, with Fluor expecting to complete the process by the end of Q2 2026, subject to volume restrictions intended to preserve equity value during the sell‑down. NuScale Power
In plain English: even with guardrails, investors may treat that as a persistent supply source for SMR shares until the monetization window closes.
2) At‑the‑market issuance and ongoing equity‑funding expectations
NuScale’s own disclosures show it has used the equity market aggressively. In its Q3 2025 results, NuScale reported it sold 13.2 million shares via an at‑the‑market (ATM) program during the quarter, generating $475.2 million in gross proceeds, and ended Q3 with $753.8 million in cash, equivalents, and investments. NuScale Power
Separately, an SEC‑filing summary reported by Investing.com described NuScale launching a new ATM program of up to $750 million (through multiple sales agents). Investing
For investors, this creates a tug‑of‑war:
- Positive: liquidity runway to fund commercialization. NuScale Power
- Negative: the market tends to price in dilution risk, especially when revenue is still small relative to operating needs. NuScale Power
The fundamental bull case: SMR demand is rising—and NuScale keeps landing “strategic” headlines
NuScale’s thesis has strengthened in one big way over the past year: policy and utilities are talking about nuclear like it’s a grid necessity, not a museum exhibit.
TVA + ENTRA1: a massive “program” headline tied to data centers and grid growth
TVA and ENTRA1 announced a collaborative agreement aimed at developing up to 6 gigawatts of new nuclear generation across TVA’s seven‑state region. TVA said the collaboration could power the equivalent of ~4.5 million homes or 60 new data centers—a direct nod to AI‑driven electricity demand. Tennessee Valley Authority
TVA CEO Don Moul framed it as a national push, highlighting the role of public‑private partnerships in advancing next‑generation nuclear. Tennessee Valley Authority
NuScale has repeatedly positioned this as a landmark for its technology—its own release called it the largest SMR deployment program in U.S. history, emphasizing expected demand from hyperscale data centers, AI, semiconductor manufacturing, and other energy‑intensive industries. NuScale Power
A sober investor footnote: agreements like this can be strategically important while still leaving open questions about final sites, timelines, permitting, and contract structures (for example, future PPAs).
U.S.–Japan framework: SMRs show up inside “critical energy infrastructure” spending
A White House fact sheet on the U.S.–Japan Framework Agreement cited up to $332 billion in “critical energy infrastructure” investments that explicitly include small modular reactors, and it also referenced the supply of large‑scale baseload power infrastructure from ENTRA1 Energy. The White House
NuScale publicly connected this framework to ENTRA1’s power‑plant fleet ambitions, pitching it as another signal that advanced nuclear is being pulled into industrial policy and large‑capex planning. NuScale Power
Romania: Europe’s SMR “first mover” narrative remains in play
Reuters reported that Romania is preparing a preliminary investment decision in 2025 on an SMR plant at Doicesti, with state nuclear company Nuclearelectrica planning to work with NuScale and targeting construction by 2029. The report also cited $4 billion in U.S. government support commitments (split between EXIM and DFC). Reuters
NuScale, for its part, has said it continues progressing Fluor’s Phase 2 FEED work for the RoPower Doicești project. NuScale Power
The regulatory “moat” argument: NRC approvals that competitors still chase
A core part of NuScale’s pitch is that it’s not just designing reactors—it’s clearing U.S. regulatory gates that many peers haven’t.
In May 2025, the U.S. Nuclear Regulatory Commission announced approval of the NuScale US460 standard design (a 77‑megawatt‑per‑module SMR). The NRC said the approval was based on the staff’s final safety evaluation report, and noted the design builds in part on NuScale’s earlier US600 design certified in 2023. Nuclear Regulatory Commission
The U.S. Department of Energy’s nuclear office also characterized this as the second SMR design approved by the NRC, underscoring the regulatory milestone value. The Department of Energy’s Energy.gov
Reuters, covering the approval, noted both the “critical step” narrative and the persistent critique: SMR economics, costs, and nuclear waste concerns remain open debate points, especially after NuScale’s earlier U.S. project cancellation in 2023 due to rising costs (per Reuters). Reuters
Analyst forecasts and Wall Street framing: big upside targets, but not universal conviction
Because SMR has fallen so much from prior highs, consensus target prices often imply huge upside—but the spread between bulls and skeptics is wide.
A sampling of widely cited forecast aggregators shows:
- TipRanks: average target around $33.32 (range roughly $18.50 to $60) TipRanks
- Investing.com: average target around $35.5, with a mix of Buy/Hold/Sell recommendations (their dataset shows “Neutral”) Investing
- StockAnalysis: average target around $36.56, consensus shown as “Buy” (based on its tracked analysts) StockAnalysis
- Zacks: similar target range framing (low/high figures align with the broader consensus spread) Zacks
At the same time, not all “experts” are leaning in. Barron’s reported that Bank of America Securities downgraded NuScale (and Oklo) amid concerns about sector valuations and near‑term deployment expectations, cutting NuScale’s target to $34 (per Barron’s summary). Barron’s
And a recent TipRanks “weekend update” highlighted investor anxiety around losses and sentiment, even while acknowledging NuScale’s strategic position in SMRs. TipRanks
Bottom line: forecasts exist, but forecast dispersion is the story—analysts disagree not just on price, but on how soon SMR projects turn into bankable orders and cash flows.
If the market is closed now: what NuScale investors should know before Monday’s session
Because it’s Saturday and U.S. exchanges are shut, the next real price discovery happens when markets reopen. Regular NYSE trading runs 9:30 a.m. to 4:00 p.m. ET, with extended hours also outlined by NYSE. NYSE
There are no special weekend sessions—so any narrative shift will show up first in pre‑market indications and at Monday’s open.
Here are the practical, high‑signal items to watch before the next bell:
1) Expect thin, jumpy trading into year‑end
Reuters has been explicit: light volumes and year‑end adjustments can magnify moves. That’s especially relevant for a volatile, headline‑driven name like SMR. Reuters
2) Monitor dilution/overhang headlines like you’d monitor earnings
NuScale’s liquidity is real (and sizeable), but it has been built partly through equity issuance, and the company has disclosed tools to raise more. NuScale Power
Meanwhile, Fluor’s planned monetization remains a structural factor investors may price in day to day. NuScale Power
3) Separate “program scale” from “order certainty”
The TVA/ENTRA1 program is enormous on paper—up to 6 GW—and explicitly tied to data center growth. Tennessee Valley Authority
But the market will continue to interrogate milestones: site selection, permitting, PPAs, financing, and delivery timelines.
4) Keep one eye on Washington (and one on the NRC)
Policy has been swinging toward faster nuclear development, and regulatory process changes have become part of the broader nuclear investment narrative. Financial Times
For NuScale, the upside is clear—regulatory “firsts” matter. The risk is that politics can introduce uncertainty, backlash, or shifting standards.
5) Macro catalysts can hit SMR harder than the index
With the S&P 500 near 7,000 and investors laser‑focused on rates, any surprise from Fed communications can whipsaw high‑duration, story‑heavy equities. Reuters specifically flagged Fed minutes and rate expectations as key week‑ahead drivers. Reuters
