Why NuScale Power Stock Plunged in February and Could Fall Further

NuScale Power's (NYSE: SMR) January rally didn't conscionable stall successful February; it collapsed. The banal plummeted 26.5% past month, according to information provided by S&P Global Market Intelligence, erasing each its earlier gains and trading astir 18% little successful 2026, arsenic of this writing.

Things aren't looking bully for NuScale. A captious task delay, an net study featuring a fig that has spooked investors, stock dilution, and aggregate expert reratings were conscionable immoderate of the large themes that wounded the atomic vigor banal successful February, and proceed to nonstop it lower.

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NuScale took the archetypal large deed successful the 2nd week of February aft TD Cowen expert Marc Bianchi downgraded the stock's standing from bargain to hold, informing investors that the company's flagship task successful Romania could beryllium delayed until 2034.

NuScale is gathering tiny modular reactors (SMRs) called VOYGR based connected its proprietary powerfulness modules. RoPower, a associated task betwixt Nuclearelectrica and Nova Power, is presently NuScale's lone customer. The declaration stated 2029-2030 arsenic the targeted deployment day for a VOYGR works astatine the Doicesti Power Station tract successful Romania.

Last month, Nuclearelectrica shareholders approved the project's last concern decision, which allows NuScale to determination to the adjacent steps of securing financing.

That's bully news, but the archetypal module whitethorn not participate commercialized cognition earlier 2033. That means the works whitethorn not beryllium operational earlier 2034, 4 years down the archetypal target. Bianchi besides noted the worldly risks NuScale would look if the archetypal module failed to run arsenic expected.

Meanwhile, NuScale Power's largest shareholder and engineering giant, Fluor is selling shares consistently successful enactment with its determination to exit NuScale wholly by the extremity of the 2nd 4th this year. On Feb. 13, for instance, Fluor sold 71 cardinal NuScale shares astatine astir $19.05 per share.

NuScale Power banal took different large deed aboriginal successful the period aft it released fourth-quarter and full-year 2025 results.

Investors were stunned by a $507.4 cardinal milestone outgo to ENTRA1 Energy, NuScale's exclusive commercialization partner. The monolithic currency outlay was recognized arsenic an disbursal during the quarter, adjacent though NuScale hasn't built a azygous works yet. NuScale reported an operating nonaccomplishment of astir $690 cardinal versus a nonaccomplishment of $139 cardinal successful 2024.