NuScale Power Stock Below $24: Is Now the Right Time to Buy?

NuScale Power (NSLV) has dipped below $24 per share, drawing renewed investor interest amid speculation about its future in the clean energy infrastructure market. The stock's current valuation reflects ongoing challenges in scaling nuclear technology, but also potential upside as the U.S. prioritizes low-carbon power solutions. The company's market capitalization stands at approximately $1.2 billion, reflecting investor caution despite its advanced small modular reactor (SMR) design. NuScale has secured contracts with Utah Associated Municipal Power Systems (UAMPS) for a 12-module plant at the Idaho National Laboratory, a project expected to begin commercial operation in 2030. This milestone underscores long-term viability, though near-term revenue remains limited. NSLV's valuation implies a significant discount compared to peers in the clean energy space. At a price below $24, the stock trades at less than 10 times its projected 2030 revenue, assuming successful deployment. This valuation gap is driven by technical delays, financing hurdles, and regulatory uncertainty, despite the U.S. Department of Energy’s $1.2 billion loan guarantee approval in 2023. Investors in the clean energy and utilities sectors may find NSLV appealing as a speculative growth play. However, the stock remains highly volatile and sensitive to milestones in licensing, construction, and funding. Institutional ownership remains low, with only 28% of shares held by funds, suggesting limited short-term momentum. The outcome of the Utah SMR project will be a key catalyst for sentiment.