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NuScale Power Stock Sinks 15.7% on UBS Downgrade to Sell

Yahoo Finance2 min read9 sources

Why is NuScale Power stock down today?

NuScale Power (SMR) stock fell 15.7% to $8.61 on Friday after UBS cut it to Sell with a $6 target, citing $700M cash burn and declaring it a first mover no more.

Key numbers

Stock drop (Sep 11 close)-15.7%$10.21 to $8.61
UBS new price target$6.00Cut from $10.00; implies 41% further downside
Projected cash burn 2026-28 (UBS)$700Mvs $1.9B cash on hand at Q2 2026 end
Q2 2026 revenue$75,000-99% vs Q2 2025 ($8.1M)
YTD performance 2026-39.2%$14.17 on Jan 1 to $8.61 on Sep 11
52-week high$57.42Reached Oct 16, 2025; stock now 85% below that level

What happened

NuScale Power (SMR) stock fell 15.7% to $8.61 on Friday after UBS cut it to Sell with a $6 target, citing $700M cash burn and declaring it a first mover no more. UBS analyst Jon Windham cut his target from $10 to $6 — implying 41% further downside — warning that rivals TerraPower and Kairos Power already broke ground on competing small modular reactors in April 2026 while NuScale has not started construction anywhere. NuScale's quarterly revenue has fallen to just $75,000, down 99% from a year ago, with no binding customer contracts in place. The stock has now lost 39% in 2026, falling from $14.17 at the start of the year.

Why it matters

NuScale Power holds a real advantage — it has the only government-approved small modular reactor design in the United States. But a regulatory win and a paying customer are two very different things, and UBS is now saying NuScale has neither enough customers nor enough cash to outlast its rivals. Competitors TerraPower and Kairos Power leapfrogged the regulatory queue by going straight to construction in April 2026, turning NuScale from a first mover into a company racing to catch up in its own market.

Who this affects

Marketbearish
Medium impact
Nuclear energy stocks broadly fell on Friday.
Companybearish
High impact
NuScale shareholders face further losses, down 39% in 2026.
Competitorsmixed
Medium impact
Rivals TerraPower and Kairos Power gain SMR momentum.
Industrybearish
Medium impact
SMR sector credibility hinges on NuScale securing binding contracts.

NuScale Power vs Oklo, X-Energy, GE Vernova

NuScale PowerSMR$3.7B-15.7%-39.2%$57.42
OkloOKLO$6.9B-6.7%--$193.84
X-EnergyXE$6.1B-4.6%N/A (Apr 2026 IPO)$37.10
GE VernovaGEV$253.9B+3.2%+54% (per [6])$1,195.94

As of 2026-09-11

How we got here

  1. UAMPS cancels NuScale's 462 MW Idaho plant — first planned US deployment

  2. SMR hits 52-week high of $57.42 on AI-driven nuclear enthusiasm

  3. Kairos Power breaks ground on competing 50 MW Hermes 2 reactor in Tennessee

  4. TerraPower starts construction on first US commercial Gen IV reactor, Wyoming

  5. UBS cuts NuScale to Sell, $6 target; stock closes down 15.7% to $8.61

What to watch

  • NuScale Q3 2026 earnings — any new binding customer contracts announcedQ4 2026
  • Romania VOYGR-6 project conditions disclosure and construction viability update2026-12-31
  • TerraPower Natrium construction progress — first commercial Gen IV reactor milestone2027-Q1

Educational content only. Not investment advice.

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