NuScale Power Corp (NYSE:SMR) has become a hot ticket in the Russell 2000, with its stock soaring 102.62% in the past month. Investors are buzzing, but is there more upside potential, or are we approaching the peak?

NuScale: The Only US SMR Play

Though Amazon.com Inc. 's (NASDAQ:AMZN) recent energy-related announcements aren't directly linked to NuScale, the stock's surge cannot be ignored.

As the only U.S. company with a Small Modular Reactor (SMR) design license from the Nuclear Regulatory Commission, NuScale stands in a league of its own, attracting attention from investors who see SMRs as the future of green energy.

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A Short Squeeze In The Making?

NuScale is seeing a massive 23.88% short interest, which may be amplifying the stock's recent rally.

As shorts scramble to cover as the stock shoots up, this could be a classic case of a short squeeze pushing prices higher.

Bullish Signals All Around

NuScale's technical indicators also suggest the bullish momentum isn't over yet:

• SMR's price sits far above key moving averages, with the eight-day simple moving average at $13.67 and the stock price at $19.07.
• The RSI at 79.81 shows the stock is in the overbought territory, but the bulls are still charging.

The Long-Term Power Play

Despite the recent gains, investors are weighing NuScale's long-term potential. With certified technology and growing interest in green energy, the nuclear power sector may offer a compelling growth story for years to come.

But the road isn't without bumps—NuScale still faces challenges like high cash burn and a need for additional funding.

Is the NuScale Power rocket destined for higher altitudes, or are we nearing the peak of this nuclear-powered surge?

Time will tell, but for now, all signs point to continued momentum.

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Image created using artificial intelligence via Midjourney.