Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
SANTA CLARA, Calif. - Oklo Inc. (NYSE: OKLO), a $3.32 billion market cap company specializing in advanced nuclear technology, is making strides toward the commercial licensing of its Aurora Powerhouse by initiating a Pre-Application Readiness Assessment with the U.S. Nuclear Regulatory Commission (NRC). The company’s stock has shown remarkable momentum, delivering a 226.84% return over the past six months, though InvestingPro analysis suggests the stock is currently trading above its Fair Value. This step, which is set to begin in late March 2025, is a preparatory measure to ensure an efficient review process for Oklo’s forthcoming combined license application (COLA) at the Idaho National Laboratory site.
The readiness assessment will focus on the initial phase of Oklo’s COLA, which encompasses the siting and environmental information. This proactive measure is intended to address potential concerns from the NRC and refine the application materials in advance.
Oklo has been in discussions with the NRC since 2016 to pave a clear regulatory path for its advanced nuclear technology. The company has already achieved significant milestones, including an approved quality assurance program and progress in key licensing areas such as safety analysis and environmental considerations. With a robust current ratio of 48.45 and minimal debt exposure, InvestingPro data reveals the company maintains strong financial flexibility to pursue its regulatory objectives.
Jacob DeWitte, co-founder and CEO of Oklo, expressed optimism about the company’s progress toward obtaining commercial licenses for its next-generation nuclear technologies.
In alignment with the 2024 ADVANCE Act, the NRC is taking steps to modernize the regulatory framework for advanced nuclear reactors. This includes a proposal to significantly reduce licensing fees for advanced reactor developers by nearly 55%, effective October 1, 2025, which aims to make the regulatory process more accessible and cost-effective.
Oklo plans to submit its formal COLA later in 2025 and has intentions for subsequent applications to fulfill a substantial order pipeline exceeding 14 GW.
About Oklo Inc.: Oklo is developing fast fission power plants to provide scalable clean energy, establishing a domestic supply chain for critical radioisotopes, and advancing nuclear fuel recycling technology. Analysts maintain a positive outlook, with price targets ranging from $27 to $64.93. For deeper insights into Oklo’s financial health and growth prospects, including 15+ additional ProTips and comprehensive valuation metrics, explore the detailed Pro Research Report available on InvestingPro. The company has the distinction of being the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, as well as securing fuel from Idaho National Laboratory and submitting a unique advanced reactor license application to the NRC.
This article is based on a press release statement from Oklo Inc. and contains no endorsements or subjective assessments. It presents the facts as provided by the company, without speculation on the broader industry impacts or trends.
In other recent news, Oklo Inc. has made significant strides in its collaboration with the U.S. Department of Energy and Idaho National Laboratory, advancing towards the establishment of its first commercial nuclear powerhouse in Idaho. The company finalized important agreements focusing on environmental compliance and site investigation for its Aurora powerhouse project, demonstrating its commitment to regulatory and environmental standards. Additionally, Oklo expanded its board of directors by appointing Michael Thompson and Daniel B. Poneman, aiming to leverage their expertise in guiding the company’s growth and governance.
In a recent development, Oklo’s shares surged 21% after B. Riley analyst Ryan Pfingst upgraded the stock’s price target from $27 to $58, maintaining a Buy rating. This reflects a positive outlook on Oklo’s connections with advancements in AI and nuclear sectors. Furthermore, Oklo’s stock experienced a remarkable increase of 172% year-to-date and 440% over the past year. The announcement of Project Stargate, involving substantial investments in AI infrastructure, has also cast a spotlight on Oklo, despite no formal agreement being announced.
Moreover, Oklo’s involvement in an MOU with RPower aims to expedite power availability for data centers, initially utilizing natural gas generators with a transition to Oklo’s nuclear solutions. This phased power model underscores Oklo’s strategic moves to position its powerhouses as primary energy sources. These developments highlight Oklo’s proactive approach in the energy sector, with analysts and investors responding positively to the company’s growth trajectory and strategic initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.