Daily Nuclear & Uranium Market Recap
4/23/26
Daily Nuclear & Uranium Market Recap
Thursday, April 23, 2026
1. Market Overview
The nuclear and uranium complex printed another rotation day, with leadership flipping decisively from yesterday’s winners to today’s: SMR and advanced nuclear names (Oklo, BE, NKLR, BWXT) continued grinding higher while producers, juniors, and the broader uranium equity stack gave back some of yesterday’s explosive gains. Yesterday’s macro backdrop was strong, with the S&P 500 gaining 1.05 percent to 7,137.90, the Nasdaq surging 1.64 percent to 24,657.57, the VIX falling 3.49 percent to 18.82, and crude oil rising 3.19 percent to 92.53 dollars. Today’s session appears to have been a digestion day following that broad risk on push.
Uranium held at 86.90 dollars per pound on April 22, up 0.06 percent from the prior day, up 4.07 percent over the past month, and 32.37 percent higher year over year. Investing.com’s daily series confirms the recent trajectory: 86.90 on April 22, 86.85 on April 21, 86.90 on April 20, 86.30 on April 16, 85.60 on April 15, 85.45 on April 14, showing a steady grind from the low 85s to the high 86s over the past two weeks. The UXJ26 April futures contract has a first notice date of April 27, 2026, just four days away, which may be contributing to some positioning driven volatility as traders roll into the June contract.
Zacks updated its top five nuclear energy stocks table on April 22, now showing Denison (DNN) at 3.84 dollars with 560.70 percent projected sales growth, BWXT at 219.81 dollars with 13.45 percent projected EPS growth and 16.16 percent projected sales growth, NNE at 25.25 dollars with a minus 20.72 percent 12 week price change, UEC at 14.41 dollars with 43.14 percent projected EPS growth, and Rolls Royce (RYCEY) at 15.63 dollars with 25.64 percent projected EPS growth.
2. Equity Movers - Leaders
Today’s leadership was concentrated in SMR, advanced nuclear, and contractors.
Oklo (OKLO) closed at 76.82 dollars, plus 6.09 percent on a heavy 31.5 million shares. From the April 9 close of 48.00 dollars, Oklo is now up 60.0 percent in two weeks. Bank of America’s 127 dollar Buy target still implies substantial upside even from these levels. MarketBeat continues to flag Oklo as the highest dollar volume nuclear stock on its screener.
SLX AT closed at 6.54 euros, plus 6.00 percent.
NuClear (NKLR) closed at 7.72 dollars, plus 5.75 percent on 1.5 million shares, now roughly 65 percent above its April 9 close of 4.69 dollars.
Bloom Energy (BE) closed at 238.64 dollars, plus 3.87 percent on 7.6 million shares. BE continues to trade as a decoupled AI power proxy and is now up roughly 49 percent from the April 9 close of 160.40 dollars.
BWX Technologies (BWXT) closed at 225.60 dollars, plus 2.97 percent on 1.2 million shares. BWXT reports earnings on May 4 and Zacks still lists it with 13.45 percent projected EPS growth and 16.16 percent projected sales growth.
Curtiss Wright (CW) closed at 725.50 dollars, plus 2.05 percent on 137.6 thousand shares.
Talen (TLN) closed at 345.25 dollars, plus 1.75 percent on 356.4 thousand shares.
Constellation (CEG) closed at 292.00 dollars, plus 1.69 percent on 2.7 million shares.
Centrus (LEU) closed at 219.58 dollars, plus 1.15 percent on 1.8 million shares, continuing to build above the 200 dollar handle. LEU is now up 20.8 percent from its April 9 close of 181.77 dollars.
Mirion (MIR) closed at 19.48 dollars, plus 0.78 percent on 1.9 million shares.
SILXY closed at 22.34 dollars, plus 0.75 percent.
Vistra (VST) closed at 156.85 dollars, plus 0.68 percent on 3.3 million shares.
NuScale AI (NUAI) closed at 4.31 dollars, plus 0.47 percent on 3.6 million shares.
3. Equity Movers - Red Prints
The red was concentrated in names that had surged the hardest in recent sessions, particularly producers and juniors.
Nano Nuclear (NNE) closed at 25.67 dollars, minus 6.28 percent on 2.4 million shares. Still up 20 percent from the April 9 close.
Lightbridge (LTBR) closed at 13.00 dollars, minus 4.83 percent on 1.1 million shares.
enCore Energy (EU) closed at 1.98 dollars, minus 4.81 percent on 2.3 million shares.
Ur Energy (URG) closed at 1.73 dollars, minus 4.42 percent on 8.7 million shares.
NuScale Power (SMR) closed at 13.00 dollars, minus 4.20 percent on a massive 66.6 million shares, pulling back from yesterday’s 13.37 dollar close and the 14.53 percent rally. Even after today, SMR is still up roughly 39 percent from April 9.
Denison (DNN) closed at 3.92 dollars, minus 3.92 percent on 29.5 million shares. Zacks’ updated table shows DNN with projected 560.70 percent one year sales growth.
Energy Fuels (UUUU) closed at 21.90 dollars, minus 3.21 percent on 11.2 million shares.
ASP Isotopes (ASPI) closed at 5.43 dollars, minus 3.21 percent on 4.9 million shares .
NexGen (NXE) closed at 12.71 dollars, minus 2.98 percent on 6.9 million shares.
Cameco (CCJ) closed at 123.11 dollars, minus 2.66 percent on 4.4 million shares.
Uranium Royalty (UROY) closed at 3.74 dollars, minus 2.60 percent on 1.8 million shares.
Skyline Builders (SKBL) closed at 3.74 dollars, minus 2.09 percent.
Uranium Energy (UEC) closed at 14.94 dollars, minus 1.40 percent on 10.8 million shares. Zacks now lists UEC with 43.14 percent projected EPS growth alongside a minus 24.78 percent 12 week price change, which illustrates the recent drawdown before this April rally.
This is the second day in three sessions (after Tuesday) where producers and juniors pulled back while advanced nuclear and contractors held or advanced. The pattern is consistent with profit taking after outsized moves rather than a trend change.
4. Uranium Market Backdrop
Spot: Uranium at 86.90 dollars per pound on April 22, up 0.06 percent from the prior day, up 4.07 percent over the past month, and 32.37 percent year over year. Investing.com confirms the daily grind: 86.90 on April 22, 86.85 on April 21, 86.90 on April 20, 86.30 on April 16, which is a notably stable band near the high end of the recent range.
Weekly indicators: Uranium Spotlight reported that last week spot moved from 85 to 86.80 dollars on 17 transactions totaling 600,000 pounds, with the weekly indicator up 1.90 dollars, driven by renewed financial buying from Sprott Physical Uranium Trust (which raised over 70 million dollars) and returning utility term demand, including a US buyer seeking delivery starting in 2027.
Long term pricing: TradeTech’s long term indicator remains at 93 dollars per pound, the highest since 2008. Cameco’s March month end long term was 91.50 dollars. The structural message from the term market is clear: utilities are scrambling to lock in supply at prices well above spot, which historically signals further upside for spot over time.
Contract roll: The UXJ26 first notice date is April 27, just four days away. Some of the choppiness in the equity tape may be related to positioning adjustments as traders roll from the April to June futures contract.
Monthly context: YCharts’ February average spot at 71.30 dollars per pound versus the current daily spot near 87 dollars illustrates how much the market has moved from monthly average prints to where real daily transactions are clearing.
5. SEQH Desk View
Today’s tape is textbook mean reversion within a bull market: producers and juniors that rallied 5 to 10 percent yesterday gave back 2 to 6 percent today, while advanced nuclear, contractors, and IPPs continued to build. The net position after two days is still meaningfully positive for the entire coverage universe.
Two week performance from April 9 closes (updated for today):
Oklo: 48.00 to 76.82 dollars, plus 60.0 percent
BE: 160.40 to 238.64 dollars, plus 48.8 percent
SMR: 9.36 to 13.00 dollars, plus 38.9 percent
NKLR: 4.69 to 7.72 dollars, plus 64.6 percent
NNE: 21.40 to 25.67 dollars, plus 20.0 percent
LEU: 181.77 to 219.58 dollars, plus 20.8 percent
UUUU: 18.34 to 21.90 dollars, plus 19.4 percent
CCJ: 110.99 to 123.11 dollars, plus 10.9 percent
UEC: 13.71 to 14.94 dollars, plus 9.0 percent
DNN: 3.58 to 3.92 dollars, plus 9.5 percent
These are very large moves in a two week window, and some giveback is not just healthy but expected.
The key structural points remain firmly in place:
Uranium grinding higher at 86.90 dollars per pound, up over 4 percent in a month and 32 percent year over year
Long term pricing at 91.50 to 93.00 dollars per pound, the highest in 18 years
Weekly spot indicator gaining 1.90 dollars on 17 transactions last week, driven by financial and utility demand
AI data center demand and US government nuclear expansion targets continuing to anchor the secular bull thesis
Positioning framework is unchanged:
Core: CCJ, UEC, LEU, DNN, UUUU, UROY, BWXT, CEG, VST, TLN, MIR, CW, NXE
Satellites: SMR, Oklo, BE, NNE, ASPI, NUAI, NKLR, EU, SILXY, SKBL, URG, LTBR
The BWXT earnings on May 4 are the next major catalyst from within the coverage universe. Beyond that, watch for the weekly uranium spot indicator this coming Monday and any signals from the UXJ26 contract roll as we approach the April 27 first notice date.
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