NuScale Power faces steep revenue drop and plans large equity raise after UBS downgrade
NuScale Power (SMR) saw second‑quarter revenue shrink to $75,000, a 99% decline from the prior year, and posted an operating loss of $65 million. UBS analyst Jon Windham cut the stock’s target to $6 and downgraded it to sell, citing a five‑year build timeline and lack of firm customer contracts. The company has opened an at‑the‑market program that could issue up to $750 million of additional shares, adding to the 29% share‑count increase already recorded in the first half of 2026. Investors will watch the upcoming Q3 earnings call for any contract updates.
Why it matters
The equity program could further dilute existing shareholders, while the UBS downgrade signals heightened downside risk, potentially pressuring the stock price ahead of the Q3 earnings release (the company expects to discuss contract progress on Nov. 5).
Key facts
- 1Shares fell 14.8% in September 2026 and are down about 55% for the year. finance.yahoo.com
- 2UBS analyst Jon Windham downgraded NuScale to sell and lowered the price target from $10 to $6 per share on September 11. finance.yahoo.com
- 3Second‑quarter revenue collapsed 99% to $75,000. finance.yahoo.com
- 4The company reported an operating loss of $65 million in Q2. finance.yahoo.com
- 5NuScale launched an at‑the‑market equity program that may raise up to $750 million, after a 29% increase in share count during H1 2026. finance.yahoo.com
- 6The stock trades at $7.18, reflecting a 49% year‑to‑date decline. 247wallst.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.