Nuclear energy provider Oklo (OKLO), which made its public debut just last year through a special purpose acquisition company (SPAC) merger, is certainly reaping the benefits from the increased interest in nuclear power as artificial intelligence (AI) and data center operations create an excess demand for electricity. In fact, the stock just landed a fresh Street-high price target this month, signaling growing conviction in its long-term potential.
After Oklo won an important government contract to power an Air Force base in Alaska, Wedbush analysts raised the price target on the company’s stock from $55 to a Street-high price target of $75. Wedbush sees significant potential in Oklo to leverage the growing demand for clean energy. They see the startup as a “clear leader” in this field on the basis of its business model.
Oklo shares recently touched a new 52-week high of $73.55, just below the Street-high target, but have since pulled back to the $55 level.
About Oklo Stock
Founded in 2013, California-based Oklo (OKLO) focuses on small modular reactors (SMRs), which it is working to ramp to commercial operations. Oklo has a market cap of around $7.8 billion. Unlike conventional nuclear reactors, which sell power to utility companies, Oklo plans to directly operate its microreactors and sell power directly to customers, which are expected to provide recurring revenues and greater flexibility in deploying nuclear power.
Although Oklo is still a pre-revenue company, the company’s stock has been skyrocketing recently as nuclear power gains traction. Over the past 52 weeks, the stock has surged by a whopping 528%. In 2025 alone, Oklo’s shares are up an impressive 165%.
Oklo Is on Track to Generate Revenues
On May 13, Oklo reported its first quarter results. As already stated, the company is not generating any revenues at the moment. The company reported that total operating expenses were $17.9 million, which was subsequently its loss from operations. This was mainly due to payroll and professional fees. Expenses also included approximately $2.3 million of non-cash stock-based compensation.
Its net loss narrowed from $24 million to $9.8 million year-over-year. The net loss per share dropped from $0.34 to $0.07, which was better than the $0.10 loss per share that Wall Street analysts were expecting. Moreover, Oklo doesn’t seem to be having trouble generating cash at the moment. As of the end of Q1, the company's cash and marketable securities totaled $260.7 million.
Oklo is extremely optimistic about its operations. The company initiated Phase 1 of its pre-application readiness assessment for the Aurora-INL Powerhouse Combined License Application (COLA) with the U.S. Nuclear Regulatory Commission (NRC).
Additionally, Oklo achieved eligibility to pursue contracts under the Advanced Nuclear Power for Installations (ANPI), a U.S. Department of Defense (DOD) program that facilitates the deployment of nuclear power. This eligibility opens up the possibility for near-term deployments of Oklo’s offerings on defense installations.
The company also added a potential revenue stream by acquiring Atomic Alchemy, a company specializing in the production of radioisotopes for use in chip manufacturing (particularly for AI), national defense, medical, and industrial applications.
These developments, combined with heightened interest in nuclear power for energy generation and a flurry of supportive executive orders, position the company for growth in the near term. Barring unforeseen circumstances, Oklo aims to achieve active plant operations starting from late 2027 or early 2028.
Wall Street’s Bullish Bet on Oklo Stock
Apart from Wedbush’s Street-high target, Seaport Global’s Jeff Campbell also turned bullish on Oklo, upgrading the stock from “Neutral” to “Buy” and assigning a fresh $71 price target, showing significant confidence about the company’s growth prospects. William Blair also initiated coverage of Oklo with an “Outperform” rating.
William Blair analysts, led by Jed Dorsheimer, believe that the company is a “standout” in the nuclear industry due to its unique business model and see it well-positioned to benefit from increasing electricity prices, as hyperscalers look to sign power purchase agreements. H.C. Wainwright also initiated coverage of Oklo with a “Buy” rating, giving it a price target of $55.
Oklo is earning high marks on Wall Street, with analysts awarding it a consensus “Moderate Buy” rating. Of the nine analysts covering the stock, five analysts have rated it a “Strong Buy,” one suggests a “Moderate Buy,” and three analysts are playing it safe with a “Hold” rating. The consensus price target of $60.28 represents 9% upside potential. However, Wedbush’s Street-high price target of $75 indicates 36% upside.
