Why NuScale Power Stock Just Crashed

NuScale Power Corp. (SMR) shares dropped 13.66% after UBS downgraded it to Sell, cutting its price target to $6 from $10. Analyst Jon Windham cited extended build timelines and lack of firm customer commitments, estimating a $95 million EBITDA gap by 2028. UBS projects negative earnings throughout the forecast period, with revenue growing from $185 million in 2028 to $924 million in 2030.

NuScale Power (NYSE:SMR) shares fell 4.4% premarket after UBS downgraded the stock to Sell, cutting its price target to $6.00 from $10.00. Analyst Jon Windham cited extended build timelines and lack of firm customer commitments as concerns, forecasting $700M in cash burn from 2026-2028 and negative earnings through 2030. The new target implies 40% downside from current levels.

NuScale Power (SMR) shares fell 3.3% premarket after UBS downgraded it to Sell from Neutral, cutting its price target to $6.00. UBS cited project delays, lack of customer commitments, and a forecasted $700M cash burn through 2028. NuScale reported Q2 2026 revenue of $75K, down from $8.1M YoY. Shares traded at $9.87 premarket.

NuScale Power's stock dropped 3.3% in pre-market trading after UBS downgraded it to Sell and cut its price target to $6.00 from $10.00. UBS cited a lengthy construction timeline, lack of customer commitments, and projected cash burn of $700 million. The company's Q2 2026 revenue fell to $75,000 from $8.1 million a year earlier.

Oklo (OKLO), NuScale Power (SMR), and X-Energy (XE) each fell 5% after Piper Sandler initiated coverage with a Buy rating for Oklo and a Sell rating for X-Energy. The Global X Uranium ETF (URA) dropped 3%, while the broader market (SPY) declined 0.5%, indicating sector-specific pressure. Analyst Dimple Gosai emphasized financing structure as a key factor for small modular reactor developers.

Piper Sandler initiated coverage on nuclear companies, rating Oklo (OKLO) Buy with a $55 target and X-Energy (XNEGY) Sell with a $9 target. Both stocks fell, along with NuScale Power (SMR), as the sector faces pressure in 2026. Oklo's model was praised for its vertical integration, while X-Energy's valuation was deemed stretched.