Key insights
- Fluor sold $162.9M in NuScale (SMR) shares amid a price decline. Analysts at UBS and Craig-Hallum have lowered their price targets for NuScale, reflecting a cautious outlook despite the company's developments in fuel manufacturing and partnerships. Bernstein highlights the potential of SMRs in supporting AI and hyperscaler growth. The Fluor sale and revised analyst targets signal short-term headwinds for NuScale, with limited broader market implications.
Fluor Corp (NYSE:FLR) , a 10% owner of NuScale Power Corp (NYSE:SMR), sold 13,500,000 shares of Class A Common Stock at a price of $12.0665 on April 9, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The total value of the sale was $162,897,750. The sale comes as NuScale shares have declined sharply, currently trading at $9.59 with a market cap of $3.25 billion.
Following the transaction, Fluor Corp. directly owns 26,436,472 shares of NuScale Power Corp.
The sale was made pursuant to a previously disclosed agreement. The shares are beneficially owned by Fluor Enterprises, Inc., a wholly-owned subsidiary of Fluor Corporation.
In other recent news, NuScale Power Corporation has been active with several key developments. The company has announced an expansion of its fuel manufacturing partnership with Framatome, which now includes European facilities. This expansion aims to support NuScale’s European small modular reactor customers while also issuing notice for its Richland, Washington facility to produce fuel assemblies for U.S. customers. Additionally, NuScale has partnered with Ebara Elliott Energy to develop and test a high-temperature steam compressor, integrating its reactor technology with petrochemical plants.
On the financial front, UBS has revised its earnings outlook for NuScale Power, cutting its stock price target from $20 to $13, while maintaining a Neutral rating. The firm adjusted its cash EBITDA estimates for the years 2026 to 2028, indicating a more cautious financial forecast. Meanwhile, Craig-Hallum also lowered its price target for NuScale from $53 to $24, though it continues to hold a Buy rating, citing the company’s potential as a first mover in small modular reactor projects. Furthermore, a report from Bernstein highlights the growing role of small modular reactors in supporting the expansion of artificial intelligence and hyperscaler growth, aligning with NuScale’s strategic direction.
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