The nuclear sector is refusing to cool off. For the second straight session, small modular reactor stocks are posting meaningful gains, with NuScale Power (NYSE:SMR) stock leading the charge. SMR stock is up 11% today, rising from $11.41 to $12.65, making it the standout mover of the group on Friday.
Oklo (NYSE:OKLO) stock is up 6% today, climbing from $64.21 to $67.88, while Nano Nuclear Energy (NASDAQ:NNE) stock is up 5%, moving from $24.55 to $25.82. The back-to-back gains follow yesterday’s surge driven by the White House space nuclear mandate, which signaled strong government appetite for advanced nuclear technology. So, what’s keeping buyers engaged on day two?
The short answer is that the catalysts behind this rally are structural, not fleeting. AI data center electricity demand, bipartisan political support for nuclear, and the broader energy transition are all converging to make next-generation nuclear companies look increasingly relevant to institutional investors.
NuScale Power Leads With Biggest Single-Day Pop This Week
NuScale Power’s 11% gain today is the strongest of the three names, and it’s worth noting what that suggests. SMR stock is down 19% year-to-date, meaning it has significantly underperformed both Oklo and Nano Nuclear Energy heading into this week. Today’s move looks like catch-up buying from investors who see NuScale Power as the most discounted name in the group.
NuScale Power holds a meaningful competitive edge: it’s the first and only SMR with U.S. Nuclear Regulatory Commission design approval, including an uprated 77 MWe NuScale Power Module. That regulatory milestone is genuinely difficult to replicate. The company also has a nonbinding agreement with ENTRA1 Energy and TVA to deploy up to 6 gigawatts of NuScale SMR capacity across TVA’s seven-state region, described as the largest SMR deployment program in U.S. history.
The consensus analyst price target on SMR stock sits at $20.42, well above today’s trading price. NuScale Power carries a cash position of $836.4 million, which provides meaningful runway as CEO John Hopkins focuses on commercialization and manufacturing readiness for the first Power Module. Granted, a pending securities fraud class action lawsuit remains a cloud over the stock, and investors should weigh that risk carefully.
Oklo Builds on a Remarkable Year
Oklo stock has been the sector’s strongest long-term performer by a wide margin. Oklo stock is up 198% over the past year, and up 34% over the past week alone. The company is pre-revenue, but its customer pipeline is substantial. Oklo has a roughly 14 gigawatt customer pipeline, including a 12 gigawatt Switch Master Power Agreement through 2044 and an Equinix letter of intent for 500 megawatts with a $25 million pre-payment.
Oklo’s backing from OpenAI CEO Sam Altman adds a layer of high-profile credibility that resonates with growth-oriented investors. The company’s first commercial Aurora powerhouse is targeted for deployment at Idaho National Laboratory in late 2027 to early 2028. Oklo CEO Jacob DeWitte has stated the company is the “only company with both a site use permit and secured fuel for our first deployment.” The analyst consensus target on Oklo stock is $90.41, implying significant upside from current levels.
Nano Nuclear Energy Rides the Sector Wave
Nano Nuclear Energy stock is the smallest of the three by market cap at $1.28 billion, and it’s participating fully in the sector momentum. NNE stock is up 25% over the past week. The company is developing micro modular reactor technology, including the ZEUS and ODIN portable reactor systems, which target use cases that larger SMR designs can’t easily address.
Analysts covering NNE stock carry a consensus price target of $46.67, which is substantially above today’s trading price. The company is pre-revenue, so it’s trading entirely on its technology roadmap and sector sentiment. NNE stock is up 8% year-to-date, making it the most stable of the three on a year-to-date basis heading into this week’s rally.
What to Watch
The nuclear sector’s back-to-back rally reflects something real: the intersection of AI power demand, government support, and the energy transition is creating a durable investment thesis for advanced nuclear names. No matter how you slice it, the White House mandate issued this week has reset the narrative for the entire group.
Watch for whether today’s gains hold into Friday’s close, particularly for SMR stock, which is still well below its 52-week high of $57.42 and has the most ground to recover. Any follow-through next week, especially on volume, would signal that institutional buyers are treating this as more than a two-day trade.
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