New York, May 24, 2026, 16:03 (EDT)
NuScale Power is getting mixed reviews from Wall Street ahead of the holiday-shortened week. Bank of America put the nuclear startup at Neutral, setting a $12 price target, while giving competitor Oklo a Buy. The bank said NuScale’s regulatory lead is clear, but customer deals have lagged and cash burn is still an issue.
NuScale (SMR) ended regular trading on Friday at $11.40, gaining 0.62% for the session and sitting about 1.5% higher than a week earlier. Shares had a bumpy ride, dropping 6.68% on Monday and another 4.01% Tuesday, then clawed back losses in the last three days.
No Monday reset this time. The New York Stock Exchange marks Memorial Day, Monday, May 25, as a market holiday for 2026, so investors will have to hold any moves on the new BofA outlook or weekend trades until Tuesday.
NuScale has some support from the broader market. U.S. stocks just finished their eighth week of gains, with the S&P 500 adding 0.9%, the Dow up 2.1%, the Nasdaq ahead by 0.5% and the Russell 2000 rising 2.7% for the week, per Associated Press market data.
NuScale stock is stuck in the middle right now. The company is a known name on small modular reactors, or SMRs—smaller nuclear units built to a set design. But NuScale hasn’t converted that visibility into regular product revenue yet.
NuScale CEO John Hopkins talked up rising demand this month, saying “reliable, carbon-free power has never been greater” as the company posted Q1 results. The company said ENTRA1 is still teamed with Tennessee Valley Authority on planning as much as 6 gigawatts of NuScale SMR capacity. In Romania, RoPower’s six-module plant at a former coal site is heading to its next stage. NuScale Power
Execution remains the big question. NuScale’s most recent quarterly report listed $565,000 in revenue and a net loss of $46.7 million for the March quarter. Net cash used in operations came in at $314.7 million. The company also flagged a securities class action tied to ENTRA1, with May 26 set for advisement on lead-plaintiff motions, according to court filings.
BofA analyst Rinny Singh called Oklo’s build-own-operate strategy a “potential early leader” in SMRs, citing the Meta deal and a set of non-binding letters from other customers. Competition isn’t just talk now. Wall Street wants to see which reactor companies actually sign power contracts, especially with large cloud customers. TipRanks
X-Energy is adding yet another pressure point. The Amazon-backed reactor developer collected $1.02 billion in its April U.S. IPO and now trades under XE, showing demand from investors for nuclear stocks tied to clear tech buyers. Reuters said Amazon put about $500 million into X-Energy in 2024 to help push out SMRs for zero-carbon power.
Regulatory status remains NuScale’s top advantage. The U.S. Nuclear Regulatory Commission finished its review on NuScale’s US460 Standard Design Approval in May 2025. The design covers a six-module, 462-megawatt light-water SMR. Standard Design Approval lets others use this design for future license applications, but it doesn’t mean a plant is built or making power yet.
NuScale’s 2026 annual shareholder meeting is set for May 29 at 4:30 p.m. EDT, making corporate governance the main item on the calendar this week rather than fresh reactor orders. Without bigger updates on contracts, financing, or project timing, the stock may move based more on signs the company can turn its regulatory lead into revenue than on overall nuclear sentiment.
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