NuScale Power Falls 8.8% on Romania Project Delay, Phoenix Education Faces Data Breach Suit
NuScale Power shares fell 8.8% after TD Cowen cut its rating to Hold over potential delays pushing its 12-module, 924 MWe Belgian small modular reactor project in Romania to 2034. Separately, Phoenix Education Partners faces a securities investigation following allegations of misleading business information and a data breach affecting 3.5 million people.
1. Romanian SMR Project Delay
On February 13, the Romanian nuclear operator approved the final investment decision for NuScale Power’s first small modular reactor plant, but commercial operations are now slated for July 2033 with full completion in December 2034, compared with an original 2030 target.
2. Analyst Downgrade and Market Reaction
On February 11, TD Cowen downgraded NuScale Power from Buy to Hold, citing concerns over extended timelines and risk transfer under the new agreement, which triggered an 8.8% share price decline between February 11 and 18.
3. Securities Investigation at Phoenix Education Partners
A law firm opened an investigation into Phoenix Education Partners for potential securities claims after allegations of materially misleading business information and a data breach affecting 3.5 million individuals, raising potential litigation and reputational risks.