Will NuScale Power's (SMR) Share Expansion Reflect a Bold Growth Vision or Dilute Investor Value?

• NuScale Power Corporation recently announced a planned amendment to its Certificate of Incorporation to increase its authorized Class A common shares and reported an operational leadership change, appointing David Tonnel as Chief Accounting Officer, effective November 22, 2025.
• These updates follow the announcement of a partnership with ENTRA1 Energy, which aims to accelerate deployment of NuScale’s NRC-certified small modular reactor technology across energy-intensive sectors such as AI data centers and manufacturing, even as the company addresses widened quarterly losses and increased volatility linked to major shareholder actions.
• We'll assess how the expansion of authorized shares and leadership changes influence NuScale Power's evolving investment narrative.

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NuScale Power Investment Narrative Recap

To be a shareholder of NuScale Power, you need to believe in the long-term adoption of its small modular reactor technology to meet rising energy needs in sectors like data centers and manufacturing. The recent proposal to increase authorized shares does not materially impact the most important near-term catalyst, commercial deployment of ENTRA1 Energy projects, nor does it alter the biggest near-term risk, which is timely customer acquisition for these projects.

The upcoming shareholder vote on expanding the authorized share count is especially relevant, as it may enable NuScale to raise additional capital to support growth initiatives. This could help advance production and delivery capabilities, meeting anticipated customer demand linked to partnerships, but does not directly address the risk of operational delays or execution challenges for major projects.

Yet, investors should keep in mind that despite these preparations, one potential issue could complicate NuScale’s outlook if...

Read the full narrative on NuScale Power (it's free!)

NuScale Power's narrative projects $402.3 million in revenue and $42.2 million in earnings by 2028. This requires 121.5% yearly revenue growth and a $178.8 million increase in earnings from the current -$136.6 million.

Uncover how NuScale Power's forecasts yield a $40.50 fair value, a 116% upside to its current price.

Exploring Other Perspectives

Thirteen members of the Simply Wall St Community estimate NuScale’s fair value between US$1.21 and US$40.50 per share. Many also point to the dependence on ENTRA1 Energy project commercialization as a key factor shaping expectations for future outcomes.

Explore 13 other fair value estimates on NuScale Power - why the stock might be worth less than half the current price!

Build Your Own NuScale Power Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your NuScale Power research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.
• Our free NuScale Power research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate NuScale Power's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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