Daily Nuclear & Uranium Market Recap
3/26/26
Daily Nuclear & Uranium Market Recap
Thursday, March 26, 2026
Market Overview
The nuclear and uranium complex endured a broad risk off session, with nearly every core name in the red despite uranium itself ticking higher. Uranium rose to $84.30/lb on March 25, up 0.48% day over day, and is now down 4.26% over the past month but still 31.10% higher than a year ago, based on CFD pricing that tracks the benchmark market. March futures mirrored spot at $84.30 on March 25, after a one month range between $83.50 and $88.30, down about 3.82% from late February levels and well off the January peak above $100. In contrast, a broad Nuclear Energy Index fell to $46.83, down 4.55% today and 12.69% over the past month, even while remaining about 95% higher year over year, highlighting how sharply equities have de rated versus the commodity in recent weeks.
Key Equity Movers, Laggards
Bloom Energy (BE) closed at $135.49, minus 9.81% on 11.0M shares, the worst performer in today’s set. Zacks noted yesterday that BE closed at $141.33, down 5.86%, underperforming an S and P 500 that gained 1.15%, and cited valuation concerns and growth stock volatility as drivers. Earlier this week, Yahoo highlighted BE’s roughly 9.9% single day drop to $150.12 tied to a canceled data center expansion involving a key customer and OpenAI, plus broader risk off sentiment around Trump’s comments on Iran and global uncertainty. Today’s additional 9.8% slide extends that unwind.
ASP Isotopes (ASPI) closed at $4.62, minus 8.33% on 4.1M shares, giving back more of Monday and Tuesday’s gains. MarketBeat recently highlighted ASPI’s gap up start to the week, with Cantor Fitzgerald and Canaccord issuing Overweight and Buy ratings with $13 and $11 targets, respectively, even as Weiss Ratings kept a D minus Sell rating, yielding a Hold consensus at a $13 target. The stock’s sharp pullback today underscores its sensitivity to risk sentiment and its still speculative, development stage profile despite the 2026 commercialization story.
BWX Technologies (BWXT) closed at $207.06, minus 6.78% on 1.5M shares, reversing a portion of yesterday’s 8.4% surge. BWXT was recently cited as one of the “best nuclear energy stocks to buy and hold for decades,” given its entrenched government contracts and nuclear infrastructure exposure, but even this high quality name was not immune to today’s selling.
Ur Energy (URG) closed at $1.43, minus 5.98% on 6.7M shares, continuing its post dilution and negative margin slump. H.C. Wainwright earlier this month cut its URG target to $2.30 while maintaining Buy, citing a 2025 net loss of $74.9M and negative 200% gross margin on $27.2M in revenue.
Denison (DNN) closed at $3.36, minus 5.88% on 47.1M shares, a heavy volume down day as the market continues to digest the Phoenix ISR FID and $600M capex plan. Recent analysis has emphasized that the pre FID rally priced in construction starting this year, so the stock now trades on financing and execution risk into an expected mid 2028 first production.
Oklo (OKLO) closed at $52.02, minus 5.88% on 7.2M shares, SMR at $11.06, minus 5.39% on 16.0M shares, and UUUU at $17.74, minus 5.39% on 9.1M shares. MarketBeat today identified Oklo, BWXT, and NuScale Power as the three nuclear stocks with the highest recent dollar trading volume, highlighting how these names have moved into the center of traders’ focus and volatility.
NexGen (NXE) closed at $11.18, minus 4.61% on 4.6M shares; UROY at $3.33, minus 3.76%; NNE at $21.20, minus 3.37%; LTBR at $10.92, minus 3.36%; EU at $1.80, minus 3.23%; MIR at $18.22, minus 3.14%; UEC at $13.03, minus 3.05%; and CEG at $295.99, minus 2.42%. The selloff was broad across producers, royalties, and advanced fuel or SMR adjacents.
CW closed at $665.81, minus 5.19%; TLN at $323.00, minus 1.61%; SKBL at $3.21, minus 0.62%; NKLR at $4.85, minus 2.62%; and NUAI at $4.36, minus 2.02%.
Relative Bright Spots
Vistra (VST) closed at $152.50, plus 0.65% on 4.4M shares, one of the few names in the green. Recent coverage has highlighted VST as a top long term pick in nuclear and diversified power, with a Buy rating and $236 price target implying substantial upside. Its resilience today reinforces the pattern of investors favoring cash flowing, diversified power platforms over upstream and speculative names on risk off days.
LEU closed nearly flat at $193.14, minus 0.06% on 533.4K shares. Zacks last week argued that LEU’s 19% three month drawdown had opened a buy the dip window given its $3.8B backlog and central position in enrichment and HALEU, which may be limiting incremental downside in the current tape.
Uranium and Nuclear Index Backdrop
Spot and futures: Uranium rose to $84.30/lb on March 25, up 0.48% from $83.90 the prior session, and is down 4.26% over the past month, while still 31.10% higher than a year ago. Barchart’s Mar 26 futures data show a one month low at $83.50 on March 20 and a high at $88.30 on March 11, for a net one month drop of about 3.82%. YCharts’ February average of $71.30/lb, up 31.27% year over year, confirms that the current low to mid $80s spot remains well above the 2025 price deck.
Nuclear equity index: A global Nuclear Energy Index fell to $46.83 today, down 4.55%, and has lost about 12.69% over the past month, even while standing roughly 95.50% higher than a year ago. This mirrors what we see in the individual names: a deep but still cyclical correction in equities against a commodity that has given back only a mid single digit percentage of its recent gains.
SEQH Desk View
Today’s action was a classic equity flush against a relatively steady commodity backdrop. Uranium at $84.30/lb, down only about 4 percent on the month and still more than 30 percent higher year over year, is not signaling a broken cycle. Yet BE minus 9.8%, ASPI minus 8.3%, BWXT minus 6.8%, URG minus 6.0%, DNN, UUUU, SMR, OKLO, and NXE all down 4.5 to 6 percent, and a nuclear equities index down 4.6 percent today and nearly 13 percent on the month, show how aggressively positions are being cut on any macro stress.
The quality barbell continues to show its value. VST managed to close green, LEU was essentially flat, and despite today’s giveback, BWXT, CEG, and TLN are still meaningfully above their early March levels. On the other side, highly valued or speculative names tied to AI and data center narratives, like BE, NUAI, and parts of the SMR complex, are bearing the brunt of the de risk trade.
For clients, the message does not change: as long as uranium holds the low to mid $80s and the structural tailwinds around nuclear buildouts and AI driven power demand remain in place, this looks like a positioning and valuation reset rather than the end of the nuclear trade. The opportunity is increasingly in selectively adding to durable, cash backed names like CCJ, UEC, LEU, UUUU, BWXT, and the nuclear IPPs on days like this, while keeping exposure to speculative, long dated, or capital intensive stories on a tight leash.