SMR Stocks to Watch in 2026 — NuScale, Oklo, X-energy, Centrus

Market reality check. SMR stocks have been volatile. Short sellers booked roughly $2.1B in profits over the past year on NuScale, Nano Nuclear and Oklo, whose combined market value fell by more than $30B — a sign that investors are shifting from “AI needs nuclear = all nuclear startups deserve high valuations” to scrutiny of licensing, delivery timelines and unit economics. Source: Sina Finance / 智通财经

The listed SMR universe

Listed companies with direct SMR exposure. Market caps approximate as of Aug 2026. Sources below.
Company	Ticker	Reactor / Role	Capacity	Mkt cap
GE Vernova	GEV	BWRX-300 (GE Hitachi)	300 MWe	$277B
Rolls-Royce Holdings	RR.L	SMR (PWR)	470 MWe	$172B
Cameco	CCJ	Uranium fuel / micro	~330 MWe	$43B
Oklo	OKLO	Aurora fast reactor	15–100+ MWe	$8.4B
X-energy	XE	Xe-100 HTGR	80–320 MWe	$5.8B
NuScale Power	SMR	VOYGR (PWR)	77–924 MWe	$3.9B
Nano Nuclear Energy	NNE	HTGR micro	15 MWe	$1.0B
BWX Technologies	BWXT	Nuclear components / micro	—	—
Centrus Energy	LEU	HALEU / LEU fuel	—	—

Source: Green Stocks Research (market caps as of Aug 12, 2026) · Markets Daily (Aug 24, 2026 screener)

Developer picks (pure-play SMR)

NuScale Power (NYSE: SMR)

The first SMR design to receive U.S. NRC design approval in 20 years (US460 standard design approved). VOYGR plants house up to 12 modules at 77 MWe each. Target market: electricity, district heating, desalination, hydrogen. Source: Markets Daily · NRC

Oklo (NYSE: OKLO)

Developing the Aurora fast reactor (15–100+ MWe) using metallic fuel with HALEU or recycled fuel; three business segments: Oklo Power, Oklo Fuel and Oklo Isotopes. Has 1.2 GW advanced nuclear campus commitment with Meta in Ohio (first reactors targeted 2030). Source: Green Stocks Research · Informed Clearly

X-energy (Nasdaq: XE)

Xe-100 HTGR (80 MWe/module, 320 MWe 4-pack), backed by Amazon’s $700M investment and a DOE ARDP award up to $1.2B. Operates TRISO-X, the first NRC-licensed commercial TRISO fuel fabrication facility. 11.5 GW commercial pipeline with Centrus HALEU supply secured. Source: Green Stocks Research · X-energy

Enablers & picks (fuel, components, industrials)

Centrus Energy (NYSE: LEU)

The HALEU bottleneck play: sole NRC-licensed U.S. HALEU producer, $900M DOE contract (up to $1.07B), 1,900+ kg produced, $3.8B total backlog (Dec 2025). Source: Power Magazine · Centrus Q4/FY2025 results

BWX Technologies (NYSE: BWXT)

Nuclear components, naval reactors and fuel fabrication; commercial SMR/microreactor programs; selected for the U.S. Army’s Janus microreactor program (up to $2.2B across five companies). Source: Markets Daily · Janus program coverage

GE Vernova (NYSE: GEV)

BWRX-300 via GE Hitachi Nuclear Energy; largest listed energy equipment player with direct SMR line. Source: Green Stocks Research

Catalysts to watch

NRC/regulatory milestones — design certifications, construction permits, COLAs.
New data center offtake deals — hyperscalers adding SMR capacity (see nuclear for data centers guide).
HALEU ramp — Centrus commercial production timing (see supply chain tracker).
First-of-a-kind construction — Kemmerer (Natrium), Oak Ridge, Ohio campuses moving dirt.
Janus microreactor awards — $2.2B U.S. Army program across five companies (Antares, BWXT, GA-EMS, Radiant, Westinghouse). Source: Janus program coverage

Risk notes

First-of-a-kind units are expensive — SMR cost advantages only materialize at “Nth-of-a-kind” replication scale.
Licensing delays and fuel availability can push first power years out.
High short interest (Oklo and NuScale each ~18% of float shorted) means elevated volatility. Source: Sina Finance / 智通财经

This page is independent market intelligence, not investment advice. Sources: Green Stocks Research · Markets Daily · Sina Finance / 智通财经 · X-energy