NuScale Power Corporation (SMR) saw a significant surge in its stock price on January 21, 2025, closing at $25.61, marking a 16.57% increase from the previous close of $21.97. The stock opened at $23.86 and reached an intraday high of $25.63, with trading volume hitting 13,963,934 shares, surpassing the average daily volume by 31.58%. This upward movement was largely driven by a broader rally in the U.S. energy sector, particularly in nuclear energy stocks, following the Tennessee Valley Authority's application for $800 million in federal funding to support small modular reactors (SMRs). This development, along with international interest in SMR technology, has bolstered investor confidence in NuScale's growth potential.
Despite the absence of direct company-specific news, the positive sentiment around nuclear energy and clean energy solutions likely contributed to the stock's performance. Analysts have also shown optimism, with Craig Hallum recently raising their target price for NuScale Power.