NuScale Power Corporation (SMR) saw its stock price rise by 5.01% on January 29, 2025, closing at $22.00, up from the previous close of $20.95. The stock opened at $21.25 and reached an intraday high of $23.28, with trading volume significantly above average at 13,889,733 shares. The surge in NuScale's stock can be attributed to positive developments in the nuclear energy sector, as highlighted by the International Energy Agency's report on nuclear power's promising future. Additionally, NuScale's recent contract win with South Korea's Doosan Enerbility for steam generator tubes has bolstered investor confidence, underscoring the company's growing influence in the global nuclear market.
The announcement of a second contract with Swedish steel company Alleima to supply steam generator tubes for NuScale's small modular reactors further fueled optimism. This contract, valued at approximately $48.4 million, signifies continued demand for NuScale's innovative SMR technology, which is the first to receive approval from the US Nuclear Regulatory Commission. These developments have positioned NuScale as a key player in the nuclear energy sector, driving today's stock price increase.