Why NuScale Power Stock Plunged in February and Could Fall Further

By Neha Chamaria – Mar 8, 2026 at 2:29PM ESTKey PointsOne number in NuScale Power's earnings report shocked the markets. A major project is also expected to be delayed by several years.NuScale Power's (SMR 4.02%) January rally didn't just stall in February; it collapsed. The stock plummeted 26.5% last month, according to data provided by S&P Global Market Intelligence, erasing all its earlier gains and trading almost 18% lower in 2026, as of this writing. Things aren't looking good for NuScale. A critical project delay, an earnings report featuring a number that has spooked investors, share dilution, and multiple analyst reratings were just some of the major themes that hurt the nuclear energy stock in February, and continue to send it lower. Image source: Getty Images. Why is NuScale Power stock taking such a big hit? NuScale took the first big hit in the second week of February after TD Cowen analyst Marc Bianchi downgraded the stock's rating from buy to hold, warning investors that the company's flagship project in Romania could be delayed until 2034. NuScale is building small modular reactors (SMRs) called VOYGR based on its proprietary power modules. RoPower, a joint venture between Nuclearelectrica and Nova Power, is currently NuScale's only customer. The contract stated 2029-2030 as the targeted deployment date for a VOYGR plant at the Doicesti Power Station site in Romania. Last month, Nuclearelectrica shareholders approved the project's final investment decision, which allows NuScale to move to the next steps of securing financing. That's good news, but the first module may not enter commercial operation before 2033. That means the plant may not be operational before 2034, four years behind the original target. Bianchi also noted the material risks NuScale would face if the initial module failed to operate as expected. ExpandNYSE: SMRNuScale PowerToday's Change(-4.02%) $-0.49Current Price$11.69Key Data PointsMarket Cap$3.7BDay's Range$11.62 - $12.2352wk Range$11.08 - $57.42Volume1.1MAvg Vol26MGross Margin33.84% Meanwhile, NuScale Power's largest shareholder and engineering giant, Fluor is selling shares consistently in line with its decision to exit NuScale entirely by the end of the second quarter this year. On Feb. 13, for instance, Fluor sold 71 million NuScale shares at around $19.05 per share. NuScale Power stock took another big hit later in the month after it released fourth-quarter and full-year 2025 results. Can NuScale stock fall further? Investors were stunned by a $507.4 million milestone payment to ENTRA1 Energy, NuScale's exclusive commercialization partner. The massive cash outlay was recognized as an expense during the quarter, even though NuScale hasn't built a single plant yet. NuScale reported an operating loss of nearly $690 million versus a loss of $139 million in 2024. Several analysts have slashed their price targets on NuScale Power following its earnings release, and the company is also facing several investor class action lawsuits alleging that it misrepresented ENTRA1 Energy's experience and capabilities. The February sell-off may have fundamentally shifted the narrative around NuScale Power. SMRs have several benefits over traditional nuclear reactors. NuScale, however, is still years away from commercializing its technology, and the big losses, share dilution, and the legal and funding pressures aren't helping its case. Investors should stay cautious. Read NextMar 8, 2026 •By Steven PorrelloCould This $13 Stock Be Your Ticket to Millionaire Status?Mar 6, 2026 •By Neha ChamariaBetween Price Target Cuts and Poor Market Sentiment, NuScale Power Stock is Having a Rough Week. Does the Dip Represent a Buying Opportunity?Mar 6, 2026 •By Leo SunBetter Nuclear Energy Stock: NuScale Power (SMR) vs. Oklo (OKLO)Mar 5, 2026 •By John BromelsThe Best 3 Nuclear Energy Stocks to Buy in MarchMar 4, 2026 •By Catie HoganIs NuScale the Smartest Investment You Can Make Today?Mar 3, 2026 •By Scott LevineWhy NuScale Power Stock Is Powering Down TodayAbout the AuthorNeha Chamaria is a contributing Motley Fool stock market analyst covering energy, industrials, utilities, and materials sectors, with a focus on dividend stocks. Prior to The Motley Fool, Neha worked on portfolio valuations for hedge funds at HSBC and authored articles as a journalist. She holds a master’s degree in finance from ICFAI and an MBA from Symbiosis University, along with certifications from the National Stock Exchange of India. Neha was honored with an all-India gold medal for her M.S. in Finance and was the first woman in her family to pursue a professional career.TMFNehaChamariaX@nehamschamariaStocks MentionedNuScale PowerNYSE: SMR$11.67(-4.19%)-$0.51FluorNYSE: FLR$45.04(-2.48%)-$1.14*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.