New York, January 10, 2026, 19:14 EST — Market closed
NuScale Power Corp shares jumped 4.3% Friday, closing at $20.51, after Bank of America upgraded the small nuclear-reactor developer. The upgrade reignited trader interest ahead of next week. Intraday, the stock fluctuated between $19.74 and $22.49.
The timing is key since “SMR” stocks have been behaving more like a thematic play than a story grounded in fundamentals, with investors tying nuclear power to surging data center demand. When the trade gains momentum, smaller, higher-beta names like NuScale can swing sharply both ways.
NuScale’s news stream slowed down heading into the weekend. That made Friday’s shift feel more like a recalibration of expectations—a check to see if buyers will stay engaged when U.S. markets open on Monday.
BofA Securities analyst Dimple Gosai raised NuScale to neutral from underperform but trimmed her price target to $28 from $34. In a client note, she explained that while policy momentum “lowers friction,” it doesn’t accelerate timelines, turning 2026 into more of a screening year than one for building. TipRanks
Meta Platforms grabbed headlines by announcing nuclear energy deals with Vistra, Oklo, and TerraPower to power its data centers, targeting projects with Oklo and TerraPower in the 2030s. The companies kept financial details under wraps.
Friday’s jump happened amid heavy volume and active options trading, data highlighted by The Motley Fool shows. NuScale’s shares have swung widely, ranging from about $11 to $57 in the past 52 weeks, illustrating how volatile sentiment remains in this sector.
NuScale is pushing ahead with small modular reactors (SMRs), these compact, factory-made nuclear units meant to replace traditional large, custom-built plants. The U.S. Nuclear Regulatory Commission gave the nod to NuScale’s larger 77-megawatt model in 2025. At that time, CEO John Hopkins declared, “We now have an American technology that is near-term deployable.” That came despite NuScale scrapping its initial U.S. project in 2023 after costs surged. Reuters
But the outlook carries significant downside risks. Gosai framed her call around a more balanced risk-reward following ENTRA1 milestones, highlighting near-term cash demands, dilution risk, and uncertain contract visibility — a combination that could weigh heavily on the stock if new deals don’t materialize.
On Monday, eyes will be on NuScale to see if it can maintain Friday’s rally after the nuclear trade cools off. Investors will also be gauging whether recent deal announcements keep driving interest—and cash—into SMR-linked stocks.
NuScale is set to appear at the UBS Global Energy & Utilities Winter Conference on Jan. 12, followed closely by the Needham Growth Conference on Jan. 15. These events will be key moments to watch for updates on funding requirements, customer schedules, and commercial progress.
