NuScale Power (SMR.N) shares rebounded sharply in a holiday-shortened trading week, closing at $12.67 on Friday, May 30, 2026. The stock gained approximately 11% from its May 22 close, as investors returned from the Memorial Day break and refocused on the potential for accelerated U.S. nuclear licensing and rising power demand from data centers.
The move was not tied to any single company announcement but rather a broader reassessment of the small modular reactor (SMR) sector. The U.S. Nuclear Regulatory Commission (NRC) is reportedly advancing reforms aimed at speeding up the approval of SMR designs, including a new Part 53 licensing pathway. Industry experts suggest that if implemented correctly, this could fundamentally change the reactor licensing landscape.
NuScale's 77-megawatt reactor design received NRC approval in May 2025, positioning the company as a first-mover in the SMR space. However, the company's near-term financials remain weak. First-quarter revenue fell to $565,000 from $13.4 million a year earlier, while the net loss widened to $46.7 million. The company holds a strong liquidity position with $341.1 million in cash and $549 million in short-term investments, and no debt.
The central commercial catalyst for NuScale remains the TVA-ENTRA1 partnership, which aims to develop up to 6 gigawatts of new nuclear generation across seven states. However, the project remains contingent on securing one or more power purchase agreements (PPAs). CEO John Hopkins highlighted $1 billion in liquidity, the Framatome supply-chain partnership, and progress on the TVA program as key positives.
Competition in the advanced nuclear space is intensifying. Oklo, a peer company, announced it was selected for advanced negotiations with the U.S. Department of Energy to use surplus plutonium as fuel, underscoring that fuel access is a critical bottleneck for next-generation reactors. Oklo CEO Jacob DeWitte called fuel supply constraints "a key throttle" for the industry.
Bank of America recently rated NuScale as Neutral with a $12 price target, acknowledging the company's first-mover regulatory advantage and use of conventional low-enriched uranium fuel, but also noting risks from slow deal conversion and rising funding needs before manufacturing revenue materializes.
Investors will watch management's appearance at the RBC Capital Markets Global Energy, Power & Infrastructure Conference in New York on June 2 for any updates on TVA, project financing, or supply-chain contracts. For now, NuScale trades less like a company valued on earnings and more like an option on whether SMR technology can transition from regulatory approval to financed, operational projects.
