Why NuScale Power Stock Plunged in February and Could Fall Further

Core Viewpoint - NuScale Power's stock has experienced a significant decline, dropping 26.5% in February, erasing previous gains and trading nearly 18% lower in 2026 [1][2]. Group 1: Project Delays and Financial Performance - A critical project delay has been highlighted, with the flagship project in Romania potentially being postponed until 2034, as noted by TD Cowen analyst Marc Bianchi [4]. - The first module of the VOYGR plant may not enter commercial operation before 2033, resulting in a four-year delay from the original target [6]. - NuScale reported a substantial operating loss of nearly $690 million for the fourth quarter, compared to a loss of $139 million in 2024, alongside a $507.4 million milestone payment to ENTRA1 Energy recognized as an expense [10]. Group 2: Shareholder Actions and Market Reactions - Fluor, NuScale's largest shareholder, is consistently selling shares as part of its strategy to exit NuScale by the end of the second quarter, having sold 71 million shares at approximately $19.05 each [8]. - Following the earnings release, several analysts have reduced their price targets for NuScale Power, reflecting negative market sentiment [11]. Group 3: Legal and Funding Pressures - The company is facing multiple investor class action lawsuits alleging misrepresentation regarding ENTRA1 Energy's experience and capabilities [11]. - The combination of significant losses, share dilution, and legal challenges is contributing to a cautious outlook for investors regarding NuScale's future [12].