NuScale Power stock falls 29% in first half of 2026 as SMR rollout stalls

Shares of NuScale Power, a U.S. small modular reactor developer, dropped 29% in the first half of 2026 after earnings showed a $690 million operating loss and revenue of just $0.5 million, far below expectations. Analysts cut price targets amid reports that the company’s flagship SMR project in Romania could be delayed to 2034, while the firm paid a $507 million milestone to its partner ENTRA1 without guaranteed revenue. The company’s largest shareholder, Fluor, sold its entire stake for $2.4 billion in April 2026, further shaking investor confidence.

Despite the overall slump, the stock briefly rose 1.9% on a trading day, reaching $8.92, with mixed analyst opinions ranging from a "strong buy" to a "sell (d-)" rating and price targets between $9 and $15. The U.S. government’s push to expand nuclear capacity, including support for SMRs, frames the broader context for the company’s challenges.