New York, June 1, 2026, 16:02 EDT
NuScale Power shares rose in late New York trading on Monday, outpacing the broader small-cap tape as investors again bid up parts of the advanced nuclear trade even without a fresh company announcement. The stock was last quoted up 3.6% at $13.13, after touching $13.40, on volume of about 37.5 million shares; the SPDR S&P 500 ETF was up 0.3%, while the iShares Russell 2000 ETF was down 0.3%.
The move matters because NuScale has become one of the market’s cleaner public bets on small modular reactors, or SMRs — smaller nuclear plants designed around repeatable reactor units rather than one large custom build. The sector stayed in focus after Reuters Events reported last week that the U.S. Nuclear Regulatory Commission was moving ahead with reforms meant to speed licensing for small and microreactors, a push tied to rising power demand from data centers and manufacturing.
Monday’s rally looked more like positioning than a response to a new company release. NuScale’s press-release page listed its May 7 first-quarter results as the latest company announcement, while its investor calendar showed management appearances scheduled for Tuesday at the UBS Cleanpower Expo and RBC Capital Markets Global Energy, Power & Infrastructure Conference.
In that May update, NuScale said its partner ENTRA1 Energy continued work with the Tennessee Valley Authority on planning for up to 6 gigawatts of NuScale SMR capacity, while Romania’s Nuclearelectrica approved the next phase of the RoPower project. Chief Executive John Hopkins said “demand for reliable, carbon-free power has never been greater,” and the company said it ended the quarter with $1 billion in liquidity and capital resources. NuScale Power
The financial base is still early-stage. A quarterly filing showed first-quarter revenue of $565,000, down from $13.4 million a year earlier, and a net loss attributable to Class A stockholders of $44.0 million. NuScale said the revenue drop reflected completed RoPower licensing work and Fluor engineering activity in 2025, with no comparable activity in the first quarter of 2026.
Funding remains central to the equity story. NuScale said it has an at-the-market stock program, or ATM, that lets it sell shares into the market over time, for up to $1 billion. It sold 3.16 million shares for $37.9 million in gross proceeds during the first quarter and, after March 31, sold another 22.36 million shares for $216.8 million gross, a useful cash source but also a possible dilution overhang for existing holders.
The peer tape was mixed but supportive for development-stage nuclear names. Oklo rose 1.1% and Nano Nuclear Energy gained 4.0%, while larger nuclear generator Constellation Energy fell 6.6%, a split that suggests traders were separating speculative reactor developers from established power producers on Monday.
Wall Street is not all in. StockAnalysis, citing S&P Global Market Intelligence data, showed 17 analysts with a consensus “Hold” rating and an average price target of $15.36; the same data listed Bank of America Securities analyst Dimple Gosai as initiating coverage with a Hold rating and a $12 target on May 22. NuScale’s own investor page lists Gosai as the Bank of America analyst covering the company. StockAnalysis
The risk case is plain. If NuScale and its partners take longer to turn planning work into binding, financed orders, or if the company leans heavily on stock sales while shares are weak, the rally can unwind quickly. The company’s filing also cited a securities lawsuit over statements related to ENTRA1’s experience and capabilities; NuScale said it could not estimate any potential loss tied to the case.
NuScale’s edge remains regulatory and technical, not current earnings. The company says its NuScale Power Module is a pressurized-water reactor that can generate 77 megawatts of electricity and be scaled in configurations up to 924 megawatts, and says it has the first and only SMR design certified by the NRC. That helps the bull case, but it does not remove the hard parts: customer credit, construction cost, supply chain readiness and the timing of utility approvals.
For now, Monday’s price action says investors are still willing to pay for optionality in nuclear power. The next test is less about whether the theme has attention, and more about whether NuScale can convert it into signed projects and revenue before dilution, delays or legal noise take the lead.
