Daily Nuclear & Uranium Market Recap
2/27/26
Daily Nuclear & Uranium Market Recap
Friday, February 27, 2026
Market Overview
A brutal session to close out February as a scorching hot PPI print triggered a broad market selloff that hit the nuclear complex hard. Core wholesale prices jumped +0.8%, nearly triple expectations, reigniting fears of prolonged high interest rates and sending risk assets lower across the board. The Dow, S&P 500, and Nasdaq all closed red to end the month. Uranium spot fell to $87.25/lb per the Uranium Speculator’s morning read, with the long-term contract price at $89.00/lb and UF6 at $294.58/KgU. Trading Economics confirmed spot at $88.05/lb as of February 26, down 3.40% on the month and still +34.32% year-over-year. The Investing News Network live tracker showed $92.34 mid-session before fading. Regardless of which spot reference you use, the direction is clear: uranium has pulled back from the $90+ level we flagged earlier this week.
Key Equity Movers, Winners
Constellation Energy (CEG) closed at $328.76, +1.61% on 3.4M shares, the lone bright spot among large-caps and the only name in the complex to post a meaningful gain. CEG continues to decouple from the broader nuclear selloff on the strength of its contracted nuclear fleet, regulated utility earnings, and data center power demand positioning.
NexGen Energy (NXE) closed at $12.78, +0.16% on 6.2M shares, essentially flat and outperforming peers by holding the line.
Key Equity Movers, Laggards
Oklo (OKLO) closed at $62.85, down 9.01% on 8.2M shares, the day’s worst performer and now down 26% over the past month. The PPI-driven rate fear selloff slammed pre-revenue, high-duration names hardest, and OKLO was ground zero. Shares traded as low as $62.07 intraday, breaking below the $62.73 to $63 support zone. OKLO now trades at $62.85 vs. a 50-DMA of $79.83 and 200-DMA of $95.90, deeply oversold on a technical basis. Adding to the pressure: insider selling disclosures showed CEO Jacob DeWitte sold 140,000 shares at $75.18 on Feb. 2 ($10.5M), and insiders have disposed of 1.75M shares (~$152M) over the past 90 days. Barclays cut its price target from $146 to $82 this week.
Bloom Energy (BE) closed at $155.21, down 7.93% on 11.5M shares, erasing nearly all of this week’s gains. BE is whipsawing violently, up +19% from Friday to Wednesday, then down 12% from Wednesday to today.
Lightbridge (LTBR) closed at $12.88, down 7.14% on 954.8K shares, selling off despite releasing FY2025 financial results yesterday.
Energy Fuels (UUUU) closed at $21.45, down 6.10% on 10.4M shares, a sharp reversal following the Q4 earnings release yesterday. The market clearly did not like what it saw.
NuScale AI (NUAI) closed at $4.64, down 5.89% on 2.9M shares.
ASP Isotopes (ASPI) closed at $5.34, down 5.65% on 3.0M shares, now down 9.6% from Wednesday’s $5.77 post-NECSA catalyst high.
Nano Nuclear Energy (NNE) closed at $26.38, down 4.82% on 1.0M shares, giving back nearly all of Wednesday’s +7.41% rally.
Talen Energy (TLN) closed at $373.45, down 4.26% on 1.2M shares, the weakest of the nuclear IPP trio.
Centrus Energy (LEU) closed at $202.20, down 4.15% on 624.3K shares, slipping back to the $200 level that has acted as the post-earnings battleground.
NuScale Power (SMR) closed at $12.88, down 3.38% on 24.8M shares, drifting further into the litigation-driven downtrend.
Cameco (CCJ) closed at $116.75, down 1.21% on 2.1M shares, fading back toward the middle of its $112 to $122 range on below-average volume.
Denison Mines (DNN) closed at $4.18, down 1.91% on 29.8M shares, the lightest post-CNSC-approval volume session but still elevated. DNN is drifting toward $4.12 support (today’s intraday low).
Uranium Energy Corp (UEC) closed at $15.27, down 0.71% on 7.4M shares, holding above $15 for now but barely. Yahoo Finance confirmed the Feb. 27 close at $15.24 with a low of $14.80, suggesting even more intraday weakness than the closing print indicates.
Catalysts & Headlines
Hot PPI Print Crushes Risk Assets The session’s dominant macro driver. Core PPI at +0.8% vs. expectations of ~0.3% sent Treasury yields higher and crushed rate-sensitive equities across the board. Pre-revenue nuclear names (OKLO down 9.01%, SMR down 3.38%, NNE down 4.82%) bore the brunt as higher-for-longer rate expectations compress the present value of distant cash flows.
U.S.-Iran Nuclear Talks Stall U.S.-Iran negotiations on Iran’s nuclear program ended without a deal this week, raising fears of potential military escalation. Oil initially spiked before reversing as Bloomberg reported signs of progress later in the session. This geopolitical overhang adds uncertainty to the broader energy complex.
Oklo Insider Selling Disclosures SEC filings revealed CEO DeWitte sold $10.5M in shares on Feb. 2, with total insider dispositions of $152M over the past 90 days. Analyst consensus remains “Moderate Buy” with a $98.93 average target, but Barclays’ target cut to $82 from $146 reflects growing institutional caution.
Uranium Spot Fading, Long-Term Price Holds Spot at $87.25 to $88.05 (depending on source) has now pulled back $3 to $4 from the $90+ level touched earlier this week. However, the long-term contract price at $89.00 remains firm, and Trading Economics models project spot at $90.03 by end of Q1 and $95.56 in 12 months.
February Monthly Scorecard
February was a volatile month that ultimately ended near where it started for most names, with spot uranium and the miner complex giving back the early-month surge:
Uranium Spot: $87.25 to $88.05 (Feb. 27) vs. $91.10 (Feb. 1), down approximately 3.4% on the month
CCJ: $116.75, down from $119.18 on Feb. 1, roughly flat after a wild $112 to $122 round-trip
DNN: $4.18, up from ~$3.50 pre-CNSC approval, the month’s standout on the Phoenix ISR licence
OKLO: $62.85, down from ~$75 on Feb. 1, the month’s worst performer at approximately down 16%
LEU: $202.20, down from ~$270 pre-earnings, still recovering from the Q4 miss
UEC: $15.27, roughly flat after a volatile $15 to $17.30 range
SMR: $12.88, down from ~$14.50 on Feb. 1, weighed by securities fraud litigation
SEQH Desk View
Today’s session was macro-driven, not nuclear-driven. The +0.8% core PPI print is the kind of data shock that forces a mechanical de-risking across all high-beta, high-duration equities, and the nuclear complex was no exception. OKLO down 9%, BE down 7.9%, LTBR down 7.1%, and UUUU down 6.1% are all rate-sensitivity trades, not uranium-thesis trades.
OKLO at $62.85 is now the most technically damaged name in the complex. Down 26% in a month, trading 34% below its 50-DMA and 67% below its 52-week high, with $152M in insider selling over 90 days. Barclays’ target cut to $82 from $146 is a significant de-rating. The bull case (DOE July 4 criticality, Meta deal, NRC approval) is intact but increasingly priced against insider actions that suggest management is monetizing before milestones arrive. We would not be adding here until insider selling stabilizes.
The uranium commodity is doing exactly what it should be doing in a rate scare: holding $87 to $88 while equities crater. Spot has pulled back 3.4% on the month while OKLO is down 16% and SMR is down 11%. This physical-equity divergence has been the defining feature of February and historically resolves in favor of the commodity once the macro noise clears.
CEG at $328.76 (+1.61%) is the month’s alpha trade. The only name to close green on a day when everything else bled, CEG has separated itself from the pack as the institutional-grade nuclear exposure with contracted cash flows that can weather rate volatility. The stock is up roughly +12% in February while the rest of the complex suffered.
Heading into March: DNN earnings on March 12, UEC earnings on March 11, and OKLO earnings on March 23 are the three catalyst dates to circle. Spot uranium needs to reclaim $89+ to stabilize the miner complex. The PPI-driven selloff creates re-entry opportunities in fundamentally sound names, but patience is warranted until the macro picture clarifies.
This Week’s Research
Paid members received two reports this week: “Hadron Energy & The Janus Program” and “QLE’s Two Hemispheres: A Deep Dive into ASPI’s HALEU Strategy.” Tonight’s weekly wrap note will contextualize both within the February selloff and identify which names we are watching for March re-entry.
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