SMR · NuScale Power Corporation — research history
Complete research history. Every dossier, draft, kill, publish, and lesson the system has produced on SMR. Public so users can audit, AI can re-reference. Live price refreshes every 60s.
About SMR · NuScale Power Corporation
NuScale Power Corporation provides small modular reactor technology solutions. It offers NuScale Power Module (NPM), a light water nuclear reactor that can generate 77 megawatts of electricity (MWe). The company also provides design and nuclear regulatory licensing basis information to construct and operate the power plant; and licensing, design, development, construction, operation, and maintenance of the power plant. In addition, it offers regulatory licensing support services; start-up testing and commissioning support; accredited training programs to support initial and ongoing power plant operations; management of all aspects of the U.S. Nuclear Regulatory Commission required inspections, tests, analysis, and acceptance criteria process; NuScale Power Module mechanical handling; initial and ongoing fuel bundle loading and movement; design engineering management during commercial operation; operations and maintenance program management; procurement and spare parts management; nuclear fuel management, including reload analysis; and outage planning and execution support services. The company has a strategic partnership with Ebara Elliott Energy for the development, demonstration, and testing of industrial scale compressors using power modules. NuScale Power Corporation was founded in 2007 and is headquartered in Corvallis, Oregon.
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SELL (score -5) · 12-1 mom -73.8% · RSI 48.4 · below_both · -79.7% from high
Targets blend Wall Street consensus (14 analysts: low $7.00 / mean $15.36 / high $25.00) with chart-derived floors and ceilings.
1-Year Chart · RSI · MACD
Research Timeline
Newest first. Each entry shows what stage produced it, the verdict/decision, and the reasoning.
SMR presents an apparently rich premium environment (queue meta claimed ~71% ann. yield on $8 P) but collapses under scrutiny. The stock collapsed from ~$53 (2025 Oct high) to $9.18 currently — a -78% drawdown — yet the options data shows catastrophic liquidity deterioration: most strikes return bid=0, ask=0 across multiple expiries, meaning no real market exists at those prices. For the July-17 35-DTE window specifically, earnings print on August 6 (2026-08-06) falls INSIDE the expiry window by ~2 weeks — IV crush from a -$0.125 EPS miss would devastate any short premium position. The $8P with OI=3307 shows last=$0.55 but bid/ask=0/0, indicating that mid-price is not executable at scale; true fill price likely worse due to wide effective spread on an illiquid name. SMR fundamentals are severely stressed: -$162M annual FCF burn, negative forward P/E of -13.7x, ~19% short interest, and only $890M cash against ongoing operations — assignment risk at $8 strike implies holding a deeply distressed nuclear tech company with no signed commercial contract yet. The 200DMA sits at $21.36; current price is 57% below it. While IV of ~12.5% appears 'rich' in absolute terms relative to the stock's prior $53 price regime, this reflects historically compressed realized vol as the stock has stabilized near multi-year lows — not elevated future uncertainty that benefits an option seller.
{"symbol":"SMR","company":"NuScale Power Corporation","investigation_summary":"NuScale Power (SMR) is a pre-commercial small modular reactor developer whose only NRC-approved U.S. SMR design has failed to translate into any binding customer contracts after years of trying. The company burned $315M in operating cash in Q1 2026 alone on near-zero revenue ($565K), holding ~$890M in cash against a qua
Anti-signals for going-concern risk and aggressive dilution (ATM program + recent secondary) combined with zero commercial revenue and accelerating cash burn make the risk profile untenable. The 20/100 score falls well below the publish/paper-track threshold, and the thesis relies on unproven catalysts rather than priced-in fundamental edge.
NuScale is the only U.S. SMR company with an NRC-approved design (both a 50-MWe DCA and a 77-MWe SDA approved in May 2025), yet it has no signed commercial NPM contract as of Q1 2026. The stock has collapsed ~76% from its $57 peak to ~$14, driven by cash burn acceleration (-$315M operating outflows in Q1 alone vs -$22.7M YoY) and the termination of the UAMPS/CFPP project. Multiple near-term catalysts exist: South Korea investment negotiations reportedly advancing (per Fool, June 2026), a potential TVA-ENTRA1 framework agreement for up to 6 GW across six sites (potential $60B+ pipeline per management commentary), Romania RoPower FID expected in 2026, and the August 6 earnings call. All recent insider Form 4s were RSU grants at $0 cost basis — no open-market buys from CEO/CFO. The options market shows heavily bullish call skew (66% directional bias toward calls), with ATM IV ~120-127%. Cash runway of ~$890M is substantial but depleting fast.