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On Tuesday, Citi analyst Vikram Bagri adjusted the price target for Oklo shares, trading on the New York Stock Exchange (NYSE: OKLO), to $30.00, a slight decrease from the previous $31.00, while maintaining a Neutral rating on the stock. The company, currently trading at $30.91 with a market capitalization of $3.77 billion, has shown remarkable momentum with a 275% surge over the past six months, according to InvestingPro data. Bagri noted a "Modestly Negative" outlook, citing Oklo’s introduction of a new 75MW reactor design, which meets the demands of data center customers who prefer capacities between 60-75MW.
The new reactor design is based on Oklo’s existing 50MW model and will not necessitate changes to the licensing approach. Despite the need for higher initial capital expenditures (capex), the larger design is expected to offer improved overall plant economics. The company’s project pipeline remains stable at 14.1GW as of March 25, following a 12GW agreement with Switch (NYSE:SWCH).
Oklo is gearing up for a pre-application readiness assessment with the Nuclear Regulatory Commission (NRC), a step preceding the Combined License Application (COLA), which is slated to commence shortly. The formal application is anticipated to be submitted in the fourth quarter of 2025, following the enactment of the ADVANCE Act.
The analyst also highlighted that Atomic Alchemy, Oklo’s product, is projected to begin generating revenue from the first quarter of 2026 and will account for approximately $5 million in cash usage this year. While the deployment of Oklo’s reactors is proceeding as planned, Bagri expressed concern that larger near-term cash requirements and the increased probability of seeking external capital prior to commissioning the first reactor could pressure the company’s stock performance. Based on InvestingPro’s Fair Value analysis, the stock appears overvalued at current levels. Analysts maintain a consensus recommendation of 1.71 (Buy), with price targets ranging from $27 to $65. For deeper insights into Oklo’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Oklo Inc reported its fourth-quarter 2024 earnings, which showed a slight miss in expected earnings per share (EPS), with an actual EPS of -0.07 compared to the forecast of -0.0665. The company also reported a full-year operating loss of $52.8 million. Despite these financial results, Oklo has been actively pursuing strategic initiatives, including expanding its Powerhouse reactor design to 75 megawatts and completing the acquisition of Atomic Alchemy, which marks its entry into the radioisotope market. Additionally, Oklo projects its cash use in operations for 2025 to be between $65 million and $80 million.
In terms of company developments, Oklo’s acquisition of Atomic Alchemy is aimed at capitalizing on the high-growth radioisotope market, which is projected to exceed $55 billion by 2026. This move could accelerate revenue generation as early as the first quarter of 2026. The company also plans to submit a Combined License Application (COLA) in Q4 2025 and anticipates its first commercial Powerhouse deployment in late 2027 or early 2028. Furthermore, Oklo has signed a significant 12-gigawatt master power agreement with Switch, highlighting the growing demand for reliable, carbon-free baseload power.
Analyst firms have not been mentioned regarding any specific upgrades or downgrades for Oklo, but the company’s strategic moves and financial guidance suggest a focus on long-term growth and market positioning.
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