NEW YORK, December 29, 2025, 13:58 ET — Regular session
- NuScale shares fell about 2.6% in afternoon trading, lagging the broader market
- Peers Oklo and Nano Nuclear also declined, extending a late-year pullback in SMR developers
- Investors are focused on funding risk after NuScale’s recent authorized-share increase
NuScale Power Corp shares fell about 2.6% on Monday, extending a late-year slide in high-volatility nuclear-reactor developers. The stock was down 2.6% at $14.46 in afternoon trading.
NuScale and its peers have become a fast-moving proxy for sentiment on small modular reactors, or SMRs — smaller nuclear units designed to be factory-built and deployed in clusters to generate power. Bulls argue SMRs could help meet growing electricity demand, including from data centers, while skeptics point to long timelines and uncertain costs.
That debate has sharpened into a near-term question for equity investors: funding. In a Form 8-K filed on Dec. 17, NuScale said shareholders approved an amendment increasing authorized Class A common stock to 662 million shares from 332 million — a step that can give a company more flexibility to issue stock and raise cash. 1
There was no immediately apparent company catalyst for Monday’s move. NuScale was among the most active stocks in premarket trading, Nasdaq data showed. 2
Other U.S.-listed SMR developers moved lower as well, with Oklo down about 3.5% and Nano Nuclear Energy off roughly 7.7%.
Centrus Energy, a supplier tied to the nuclear fuel cycle, fell about 1.9%.
The broader market also dipped, with the SPDR S&P 500 ETF down about 0.4%, leaving NuScale’s decline to stand out in a quiet session.
NuScale has also been navigating shareholder overhang after Fluor Corp and NuScale said in November they reached an agreement on the conversion and monetization of Fluor’s remaining stake. 3
For traders, the near-term setup is straightforward: any hint of equity issuance can pressure the stock, while fresh customer or partner commitments can reverse sentiment quickly. With SMR projects measured in years, the market has tended to react most sharply to financing signals.
NuScale remains the only U.S. company with an NRC-approved SMR design, Reuters has reported. “We now have an American technology that is near-term deployable,” CEO John Hopkins said when regulators approved the company’s uprated 77-megawatt design in May. 4
The company has signed deals to deploy reactors in Romania and Poland, Reuters reported in November, as U.S. small-reactor developers push overseas while they seek firm orders at home. 5
In the United States, ENTRA1 Energy signed an agreement to develop facilities powered by NuScale technology that could supply up to 6 gigawatts to the Tennessee Valley Authority under proposed power purchase agreements, Reuters reported. 6
Next up, investors are likely to watch for any capital-raising steps or additional filings tied to the expanded share authorization, as well as updates on commercial timelines and partner execution. Market calendars such as Zacks expect NuScale’s next earnings release around March 2, 2026, keeping attention on cash use and any guidance for 2026. 7
