NuScale Power surges on discount to recent highs

What happened: NuScale Power (NYSE: SMR) surged 16.28% on April 22, closing at $13.57, after analysts highlighted its steep discount to recent highs and compared its prospects to Oklo (NYSE: OKLO) within a projected $10 trillion nuclear revival. NuScale, a small modular reactor developer, has fallen from a hot stock to an out-of-favor one, down over 75% from its 52-week high of $54.35 on Oct. 29, 2021. Despite the pullback, NuScale's potential in the growing nuclear energy sector has bullish investors seeing it as a bargain.

Market impact: The nuclear energy sector is experiencing a revival, with a projected $10 trillion in growth. NuScale's recent surge and bullish sentiment reflect investors' optimism in the company's small modular reactor technology. This narrative impacts other nuclear energy stocks and clean energy plays, with investors seeking undervalued opportunities in the sector.

What to watch next: NuScale's upcoming catalysts include its Q1 2023 earnings report on May 10, potential updates on its first commercial order for its small modular reactor, and regulatory decisions regarding its NRC-approved design. Additionally, investors should monitor the broader clean energy sector's performance and any geopolitical developments that could impact nuclear energy demand.