Positioning no disclosures inside 60 days, left as found
Options put/call open interest 15.65, read 2026-11-05
Ethical does not pass the values gate
Price4.37 USD
Fair value9.00
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-02Read Markdown7.79-43.9% to today ✓Accumulation gives way to Markdown after a 10% slide in 3 weeks
2026-09-13Read Accumulation8.61-49.2% to today Distribution gives way to Accumulation after a 12% slide in 4 weeks
2026-08-13Read Distribution9.82-55.5% to today ✓Accumulation gives way to Distribution while volume still accumulates
2026-07-02Read Accumulation9.89-55.8% to today First review on file: Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
NuScale Power Corporation holds its Markdown at $4.37. The statistical read favours the buyers, held for 18 days.
As held on the ledger · 2026-11-05
Phase
Markdown · caution
Quantitative state
The statistical read favours the buyers, held for 18 days
Price at the screen
$4.37
Valuation
N/A trailing · -8.24 forward price to earnings
Values screen
FAIL· score 70.0
Beta
2.43
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
29.58%
Below 33%
Cash held in interest-bearing accounts and securities is 29.6% of assets, under the one-third limit.
Pass
Receivables
59.81%
Below 49%
Money owed to the company is 59.8% of assets, above the 49% limit.
Fail
Revenue purity
22.64%
Below 5%
22.6% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
NuScale Power's business is fine, but its receivables are about 60% of its assets, well over the ~49% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Get an email when SMR's ethical verdict changes
Today SMR does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 43% discount to our $9.00 fair value.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 51.4% discount to the base estimate.
Where our models see it going: fair-value estimate $9.00, with a range of $4.00 to $10.26, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Nuclear dreams collide with collapsing revenue and losses
Picture a small reactor that could power a town, yet the business behind it just watched revenue drop 96% while posting zero profit and an 83% negative return on equity. At $7.72 the shares sit well below the analyst median target of $14, but the opportunity rating stays at none because the core numbers show a company still burning cash with no clear path to scale.
The ethical screen passes cleanly, yet the forward earnings multiple of negative 10.8 times and unknown competitive moat leave little to support a position. Fifteen analysts sit on hold, which matches the reality of a business that has not yet turned technology into consistent orders or cash flow.
Risk sits around the execution gap and dilution that often follows repeated losses in this sector. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SMR trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markdown$5.13-4.5%Entry 17
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-04Markdown$5.37-4.4%Entry 16
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-03Markdown$5.62+0.0%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-02Markdown$5.62+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01Markdown$5.62+4.5%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 4.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-31Markdown$5.38+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-30Markdown$5.38+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-29Markdown$5.38-3.6%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markdown$5.58-4.3%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15.
2026-10-18Markdown$5.83-25.2%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 25.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 73%. Our forward projection puts the odds of a 10% gain over the next month near 35%. The street (14 analysts) rates it hold, with a mean price target of $15.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
