Oklo Shares Are Rising Tuesday: What's Fueling The Momentum?

Oklo Inc. OKLO shares are trading higher Tuesday after the company's second-quarter earnings report and subsequent analyst price target increases.

What To Know: Nuclear startup Oklo reported a second-quarter loss of 18 cents per share, missing estimates for a loss of 12 cents per share, according to Benzinga Pro.

During the quarter, Oklo secured multiple strategic partnerships, including agreements with Korea Hydro & Nuclear Power to explore advanced nuclear projects and with Hexium to investigate laser-based enrichment for high-assay low-enriched uranium. The company also partnered with Liberty Energy and Vertiv to accelerate power deployment and develop solutions for data centers. In July, Oklo selected Kiewit Nuclear Solutions Co. as the lead constructor for its first commercial Aurora Powerhouse at Idaho National Laboratory.

On the regulatory front, Oklo completed Phase 1 of the Nuclear Regulatory Commission's readiness assessment for its Aurora-INL combined license application with no significant findings, positioning it to submit the formal application early in the fourth quarter. Oklo said it’s targeting commercial operations for its first nuclear powerhouse in late 2027 or early 2028.

Multiple analysts lifted price targets on Oklo shares following the company’s quarterly results, which appears to be driving some of the momentum on Tuesday.

HC Wainwright & Co. analyst Sameer Joshi maintained Oklo with a Buy rating and raised the price target from $55 to $90 and Wedbush analyst Dan Ives maintained an Outperform and raised the target from $75 to $80.

OKLO Price Action: Oklo shares were up 8.55% at $78.01 at the time of publication, according to Benzinga Pro.

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