Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 3 Sep, 25 | SMR | Buy | USD 37.24 | USD 39.2 | USD 42.0 | Same day | Closed |
13.51%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs. NuScale Power Corporation was founded in 2007 and is headquartered in Portland, Oregon. NuScale Power Corporation operates as a subsidiary of Fluor Enterprises, Inc.
Revenue Growth: Increased from USD 1.0 million in Q2FY24 to USD 8.1 million in Q2FY25 (+710%)
Liquidity Strength: Cash, short-term, and long-term investments rose from USD 130.9 million (Q2FY24) to USD 489.9 million (Q2FY25) (+USD 359M)
Operating Expenses: Increased from USD 42.0 million to USD 44.9 million (+7%), with further rises expected in H2FY25 due to supply chain investments
RoPower Project Delays: Final investment decision postponed to late 2026/early 2027, compared with earlier expectations of 2025
NuScale’s business is highly dependent on securing firm commercial contracts by year-end 2025, and delays in customer commitments or project financing could materially strain liquidity and delay commercialization
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 37.24 | 34.0 | 39.2 | 42.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Strategic Positioning in SMR Technology: NuScale Power continues to position itself as a global leader in small modular reactor (SMR) technology. As the only company with two U.S. Nuclear Regulatory Commission (NRC) approvals, including the uprated 77 MWe design secured in Q2 2025, NuScale has strengthened its technological edge. The company remains years ahead of its competitors, supported by an established supply chain and approximately USD 2 billion of cumulative investment in licensing and operations readiness.
Partnerships and Commercial Pathway: The commercialization strategy remains centered on its exclusive partnership with ENTRA1, which develops, finances, and operates energy plants powered by NuScale modules. This structure allows NuScale to concentrate on technology delivery while ENTRA1 manages customer-facing agreements and power purchase arrangements. Management reiterated optimism about securing its first firm U.S. order by the end of 2025, with strong interest from data centers, utilities, and the Department of Defense.
Regulatory and Policy Tailwinds: The company continues to benefit from supportive policy frameworks, including executive orders prioritizing advanced nuclear technologies, the Inflation Reduction Act, and the ADVANCE Act. These measures are expected to shorten licensing timelines, reinforce domestic supply chains, and enhance deployment prospects. Bipartisan backing for clean baseload power adds further momentum to NuScale’s growth trajectory.
Project and Operational Developments: Progress on the RoPower project in Romania remains steady, with the decommissioned coal plant site cleared and engineering work ongoing under Fluor’s leadership. While the final investment decision has been pushed to late 2026 or early 2027, the project continues to provide revenue through engineering and licensing services. Additionally, NuScale expanded its Energy Exploration (E2) Centers to 11 worldwide, underscoring its commitment to talent development and global nuclear education.
Financial Performance: NuScale reported Q2FY25 revenue of USD 8.1 million, a sharp increase from USD 1.0 million in Q2FY24, primarily from RoPower-related engineering and licensing fees. Operating expenses rose moderately to USD 44.9 million, compared with USD 42.0 million a year earlier, reflecting disciplined cost control. Liquidity stood at USD 489.9 million at June 30, 2025, up USD 359 million year-over-year, though slightly down from Q1FY25.
Capitalization and Shareholding Structure: As of June 30, 2025, NuScale had 284.8 million total shares outstanding and 294.5 million fully diluted shares. The capital structure includes Class A and Class B shares, options, and restricted stock units. Strategic investor Fluor has converted a portion of its Class B units to Class A shares, though NuScale emphasized that its go-to-market approach remains unchanged.
Outlook and Execution Focus: Management emphasized disciplined investment in long-lead materials and supply chain readiness while avoiding speculative production of modules. The company aims to balance cash preservation with the need to accelerate commercialization. The near-term focus remains on securing hard contracts in the U.S. by year-end 2025 and advancing global opportunities, particularly in Europe.
NuScale Power delivered strong progress in Q2FY25, underscored by a sharp revenue increase to USD 8.1 million from USD 1.0 million a year earlier, supported by steady cash inflows from the RoPower project. Liquidity improved significantly year-over-year to USD 489.9 million, providing a solid foundation for commercialization. With two NRC-approved designs, an established supply chain, and strong regulatory and policy tailwinds, the company is well positioned to secure its first firm U.S. contract by year-end 2025, reinforcing its leadership in the small modular reactor market.
As per the above-mentioned price action, important financial updates, momentum in the stock over the last three months, and technical indicators analysis, a ‘BUY’ rating has been given for NuScale Power Corporation (NYSE: SMR) at the closing price of USD 37.24, as of September 02, 2025.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Industrials Industry: Specialty Industrial Machinery
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| SMR Nuscale Power Corp |
0.29 1.84% | 16.02 | - | - | 11.65 | 2.38 | 0.26 | 0.05 |
| SIEGY Siemens AG ADR |
1.54 1.13% | 137.48 | 17.07 | 15.75 | 1.88 | 2.76 | 2.37 | 11.38 |
| SMAWF Siemens AG Class N |
9.67 3.54% | 283.00 | 16.98 | 15.53 | 1.83 | 2.72 | 2.35 | 11.32 |
| GE GE Aerospace |
8.77 3.00% | 300.95 | 12.87 | 26.60 | 1.61 | 4.69 | 1.61 | 8.43 |
| SBGSY Schneider Electric SA |
0.55 1.02% | 54.65 | 25.90 | 20.92 | 3.12 | 3.98 | 3.50 | 17.37 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is September 02, 2025. The reference data in this report has been partly sourced from REFINITIV.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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