Advanced nuclear technology company Oklo (OKLO) may be positioned to lead the global shift toward scalable clean energy, thanks to its innovative small modular reactor (SMR) technology, potentially paving the way for substantial stock growth.
That’s one of the key takeaways from a recent note by Cantor Fitzgerald, which described Oklo as a potential “big winner” in the transition to renewable energy.
Cantor issued a bullish outlook on OKLO stock, setting a price target of $73 per share, implying roughly 10% upside from current levels.
Coinciding with Cantor’s positive coverage, Oklo also announced it had selected Kiewit Nuclear Solutions to assist in developing its Idaho-based plant.
Kiewit Nuclear Solutions is a subsidiary of Kiewit Corporation, one of North America’s largest construction firms.
The plant, known as the Aurora Powerhouse, marks Oklo’s first commercialization effort. The company has already reached several pre-construction milestones in collaboration with the Department of Energy and Idaho National Laboratory.
Oklo CEO Jacob DeWitte told Bloomberg that the company plans to submit its reactor design application to the Nuclear Regulatory Commission (NRC) later this year, with the goal of bringing the Idaho plant online by 2027.
OKLO shares trade near record highs
While OKLO shares didn’t immediately react to Cantor Fitzgerald’s bullish coverage or the construction partnership update, the stock appears to be in a consolidation phase following a sharp rally throughout the year.
Shares hit an all-time high above $68 in mid-June before pulling back slightly. Currently, the stock trades just below its peak, giving the company a market capitalization of approximately $10 billion.
Oklo’s rally has defied expectations, with the stock surging 200% year-to-date and over 650% in the past 12 months, despite the company not yet generating revenue.
According to the CEO’s latest forecast, Oklo is targeting 2027 as the year it will begin generating revenue. Until then, the company continues investing heavily in operations and development.
In the first fiscal quarter of 2025, Oklo reported a net loss of $0.07 per share, slightly better than analysts had anticipated.
Despite ongoing cash burn, the company ended the quarter with $261 million in cash and marketable securities, providing enough financial runway to support its capital expenditures and development efforts.
DeWitte emphasized his company’s “disciplined” approach in its path toward commercialization.
“Our first quarter results demonstrate disciplined execution as we advance our technology and licensing efforts,” he said.
The company is expected to deliver its next quarterly financial statements in mid-August.
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