Key Stats for NuScale Power Stock
- Price change for NuScale Power stock in the last 6 months: -27%
- $SMR Stock Price as of Sep. 11: $9
- 52-Week High: $57
- $SMR Stock Price Target: $12
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What Happened?
NuScale Power (SMR) stock is falling today after UBS downgraded the company from Neutral to Sell and slashed its price target from $10 to just $6.
That new target implies about 30% downside from where the stock trades now, which is a pretty stark call from a major bank.
UBS pointed to two main worries. First, construction timelines. The firm says NuScale faces a build schedule of five-plus years, while competitors are already moving toward actual construction.
UBS now assumes only one NuScale project breaks ground by 2028, which is a slow pace compared to the urgency in the small modular reactor space right now.
Second, UBS flagged a lack of firm customer commitments. Without signed deals in hand, investors can’t know exactly when revenue will start flowing in a meaningful way, and that uncertainty is weighing heavily on NuScale Power stock today.
Money matters here too. UBS expects NuScale to burn through roughly $700 million in cash between 2026 and 2028.
That’s a big number for a company still working toward its first commercial project.
On the earnings side, UBS sees revenue climbing from $185 million in 2028 to $924 million by 2030, which sounds impressive; that’s a 123% annual growth rate, but the firm still expects the company to be unprofitable through 2030.
UBS also points to a valuation gap. At today’s stock price, the market seems to be pricing in about $124 million of 2028 EBITDA. UBS’s own estimate is far lower, at just $29 million.
That’s a meaningful mismatch, and UBS thinks recent news, project delays, setbacks with the RoPower project in Romania, and limited progress on the Tennessee Valley Authority deal will eventually force the market to close that gap.
For context, NuScale posted negative EBITDA of $224 million over the past twelve months, so the cash burn concern isn’t new, but UBS thinks it’s about to become more front and center for investors watching NuScale Power stock.
NuScale also recently reported Q2 2026 results in line with expectations on a per-share basis, though revenue came in at just $0.1 million versus $8.1 million a year earlier.
Around the same time, the company launched a $750 million at-the-market stock offering, working with firms including UBS Securities and B. Riley Securities to sell shares over time as needed.
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What the Market Is Telling Us About NuScale Power Stock
Not every analyst is as bearish as UBS.
B. Riley recently trimmed its price target on NuScale from $19 to $15 but kept a Buy rating, saying the change mostly reflects a larger share count and a broader valuation reset across the sector rather than a change in the company’s fundamentals.
Still, today’s sharp reaction in NuScale Power stock shows the market is taking UBS’s concerns seriously, especially the gap between what investors are pricing in and what UBS thinks the business can actually deliver by 2028.
Until firm customer agreements like the TVA deal materialize, NuScale Power stock will likely remain sensitive to any headline suggesting more delays.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
