NuScale Power's SMR Expansion Gains Momentum: A Sign for More Upside?

NuScale Power SMR is benefiting from its position as a global leader in Small Modular Reactor (SMR) technology, which is gaining significant momentum due to increasing demand for clean, reliable and scalable energy solutions. The company has positioned itself as the only SMR technology approved by the U.S. Nuclear Regulatory Commission (“NRC”). 

Building on this momentum, in the second quarter of 2025, the company received its second NRC approval for its 77-megawatt design, which strengthened its competitive position and increased customer interest in the SMR space.

NuScale Power’s partnership with ENTRA1, its exclusive commercialization partner, is another key driver of its momentum.  ENTRA1’s ability to develop, finance and operate SMR-powered plants reduces project risks and makes the technology more accessible to utilities, hyperscalers and government entities. This partnership positions NuScale Power to capitalize on growing interest in SMRs, particularly in the United States, where regulatory tailwinds, bipartisan support, and executive orders are accelerating the deployment of advanced nuclear technologies. 

Internationally, NuScale Power’s ongoing work with RoPower in Romania highlights its ability to expand its footprint globally. The project, which aims to replace a decommissioned coal-fired plant with SMR technology, demonstrates the versatility and scalability of NuScale Power’s reactors.  With a robust supply chain and manufacturing ecosystem, NuScale Power is well-prepared to meet increasing demand for SMRs, both domestically and abroad.

SMR Faces Stiff Competition

Despite NuScale Power’s advancements in SMR technology, the company faces stiff competition in the nuclear energy industry from companies such as GE Vernova GEV and BWX Technologies BWXT.

GE Vernova is expanding its footprint in the nuclear energy industry through its development of 300-megawatt small modular reactors. In September, GE Vernova Hitachi Nuclear Energy (GVH) and Samsung C&T announced a partnership to promote the use of the BWRX-300 SMR in global markets outside North America. This includes the possible installation of five units in Sweden. The collaboration will focus on developing supply chains and identifying project delivery solutions for GVH’s SMR technology.

BWX Technologies is expanding its presence in the SMR market. It is becoming a key player in developing and deploying advanced nuclear technologies. In September, BWX Technologies and Kairos Power announced a partnership to improve commercial production of TRISO nuclear fuel. They will combine BWXT’s manufacturing skills with Kairos Power’s advanced reactor fuel capabilities.

SMR’s Share Price Performance, Valuation and Estimates

SMR shares have surged 198% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s appreciation of 21.6%.

SMR Stock's Performance

SMR stock is trading at a premium, with a trailing 12-month Price/Book of 30.51X compared with the Computer & Technology sector’s 11.15X. SMR has a Value Score of F.

Price/Book

For 2025, the Zacks Consensus Estimate for loss is pegged at 46 cents per share, which has remained unchanged over the past 30 days. SMR reported earnings of 42 cents per share in the year-ago quarter.

NuScale Power Corporation Price and Consensus

NuScale Power Corporation price-consensus-chart | NuScale Power Corporation Quote

SMR currently carries a Zacks Rank #3 (Hold).  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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