I'm Calling It: NuScale Power Stock Is a Buy Before June 2

It's been a rough year for NuScale Power (NYSE: SMR). Shares are down 22% since 2026 began. And that's after a 40% surge in the stock price over the past two weeks.

But NuScale Power's story won't be written over a period of weeks, or even a period of years. This nuclear stock is targeting a multitrillion-dollar opportunity with its small modular reactor technology.

Still, there are a few notable events coming up that could heavily influence how the market views the company from an investment perspective. June 2 -- now only a handful of weeks away -- could be one of those events.

Here's what to expect from NuScale Power on June 2

On May 7, NuScale Power is expected to release its latest quarterly earnings report. There could be a number of important revelations, such as updates on its project pipeline or the conversion of potential customers into signed partnerships. I particularly enjoy listening to management's Q&A with Wall Street analysts. These conversations often dig into the weeds a bit more, offering more explanation behind the reported numbers.

Earnings calls like this are important for setting the narrative. But I've often found that companies use other events -- like presentations at industry conference events -- to fine-tune their investment narratives for a more sophisticated audience. That's why I'm especially interested in NuScale Power's upcoming event on June 2 at a conference held by Royal Bank of Canada. There, management will present its latest "investment pitch" for its business without needing to get too in the weeds on specific reported numbers. In short, these events allow companies like NuScale Power to zoom out and focus on the bigger picture thesis.

There are two things in particular I'll be monitoring when NuScale Power releases its presentation from the conference to the public.

Image source: Getty Images.

First, what is the primary focus of the presentation, and how does it compare to the latest earnings report? NuScale Power's stock price has struggled lately, even after factoring in the recent rebound. Net losses, meanwhile, continue to grow in magnitude. Do these factors force NuScale Power to go on the defensive, focusing on liquidity, access to capital, and near-term milestones? Or is management still focused on long-term growth drivers, like electricity demand and the inability of the current grid to meet rising demand?

If the company is able to keep the focus on long-term opportunities, how exactly is management talking about these growth catalysts? There is no doubt that AI data centers need more renewable power, and that SMRs are a potential fit. But is NuScale Power actually converting on this possible sales stream? Recently, the company's CEO revealed that it signed five exploratory NDAs with "tier one hyper-scalers." What is the status of these talks?

If earnings are positive on May 7, this June 2 event gives NuScale Power the ability to double down on the narrative of rising traction for its SMR technology. For a long-term stock like this, these narrative catalysts can arrive at any moment. So if you're bullish on NuScale Power, it may be wise to invest before these events reveal more concrete info on pipeline and sales potential.

Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.