Oklo (OKLO) Stock Surges 11% as House Passes Data Center Energy Bill

Key Takeaways

Table of Contents

Oklo shares climbed more than 11% Thursday following a 417-3 House vote approving the Ratepayer Protection Act
The legislation mandates that data centers consuming over 100 megawatts bear their own grid infrastructure and electricity expenses instead of transferring them to residential customers
X-Energy topped the nuclear sector gains with a 12.08% surge to $16.33, followed by NuScale Power’s 8.92% advance
Wall Street analysts maintain a Buy rating on Oklo with a consensus price target of $85.46
Technical indicators show Oklo trading beneath its 20, 50, 100, and 200-day moving averages following the rally

Oklo (OKLO) stock experienced an 11.31% jump Thursday after the U.S. House of Representatives approved the Ratepayer Protection Act with overwhelming bipartisan support in a 417-3 vote. Premarket trading Friday showed the stock hovering around $39.90, reflecting a 0.63% increase.

Oklo Inc., OKLO

The new legislation mandates that data centers drawing more than 100 megawatts of power must shoulder the additional grid infrastructure and energy supply expenses. This measure aims to shield residential consumers and small enterprises from absorbing these costs through elevated utility rates.

According to Brett Guthrie, who chairs the U.S. House Committee on Energy and Commerce, the Act guarantees that “the companies who are building data centers and not American families and small businesses are paying for the electricity they use.”

The legislation has positioned nuclear and next-generation reactor companies as potential beneficiaries. With data centers potentially facing increased grid connection expenses, operators may increasingly explore on-site energy alternatives such as small modular reactors.

This scenario creates opportunities for Oklo. The firm is advancing its Aurora powerhouse technology, which utilizes liquid-metal fast-reactor design capable of producing up to 15 megawatts using either fresh or recycled nuclear fuel.

Thursday’s gains extended beyond Oklo. X-Energy posted the strongest performance with a 12.08% rally to $16.33, topping the sector. NuScale Power advanced 8.92%. Fuel cell companies also benefited from the legislative development.

Among these three companies, X-Energy presents the highest potential upside according to analysts, with a consensus price target of $33.71, suggesting approximately 106% appreciation from present levels. The stock holds a Moderate Buy recommendation from Wall Street.

Wall Street’s Perspective on Oklo

Oklo maintains a Buy consensus among analysts with a mean price target of $85.46. Piper Sandler initiated coverage September 9 with an Overweight designation and $55 target. Truist Securities maintained its Hold stance while reducing its target to $51 on August 10. Citigroup preserved its Neutral rating and lowered its objective to $57.50 on the identical date.

Notwithstanding Thursday’s surge, Oklo’s technical positioning shows continued weakness. The shares trade 5.1% beneath the 50-day moving average and 36.3% under the 200-day moving average of $62.74. The relative strength index registers 48.04, indicating neutral momentum conditions.

Exchange-Traded Fund Holdings

Oklo maintains significant representation in nuclear-oriented ETFs. The Global X Uranium ETF allocates a 5.37% position to Oklo. The Themes Uranium and Nuclear ETF maintains a 6.09% allocation.

Market participants are monitoring $45 as the subsequent resistance threshold, while support appears established near $39.50.

The company’s Benzinga Momentum score registers a modest 2.6, indicating its position under multiple critical moving averages entering the weekend session.

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