Oklo (OKLO) Stock Surges 11% as House Passes Data Center Power Legislation

TLDR

• Oklo stock climbed more than 11% Thursday following overwhelming House passage of the Ratepayer Protection Act with a 417-3 vote count
• The legislation mandates that data centers consuming over 100 megawatts must finance their own grid infrastructure and electricity costs instead of transferring them to residential customers
• X-Energy topped the nuclear sector rally with a 12.08% gain to $16.33, while NuScale Power advanced 8.92%
• Wall Street analysts give Oklo a Buy consensus rating with a mean price target of $85.46
• Technical indicators show Oklo trading beneath its 20, 50, 100, and 200-day moving averages even after Thursday’s surge

Oklo (OKLO) stock rallied 11.31% Thursday after the U.S. House of Representatives approved the Ratepayer Protection Act with overwhelming bipartisan support, voting 417 to 3 in favor. In Friday’s premarket session, the stock traded around $39.90, adding 0.63%.

Oklo Inc., OKLO

The new legislation mandates that data centers drawing more than 100 megawatts of electrical power must bear their own grid infrastructure and electricity supply expenses. This provision aims to shield households and small businesses from shouldering these costs through elevated utility rates.

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

The legislative move positioned nuclear and advanced reactor manufacturers as potential beneficiaries. With data centers now facing increased expenses for grid connections, operators may increasingly consider behind-the-meter power solutions such as small modular reactors.

This scenario plays directly into Oklo’s business model. The company is advancing its Aurora powerhouse platform, which utilizes liquid-metal fast-reactor technology capable of producing up to 15 megawatts of power from both fresh and recycled nuclear fuel sources.

Thursday’s market action extended beyond Oklo. X-Energy topped the sector’s performance with a 12.08% surge to $16.33. NuScale Power posted an 8.92% advance. Fuel cell manufacturers also experienced positive momentum following the legislative development.

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

Wall Street’s Stance on Oklo

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

Notwithstanding Thursday’s rally, Oklo’s technical indicators show persistent weakness. The stock trades 5.1% beneath its 50-day moving average and 36.3% under its 200-day moving average of $62.74. The relative strength index reads 48.04, indicating neutral momentum territory.

ETF Holdings

Oklo maintains significant representation in nuclear-focused exchange-traded funds. The Global X Uranium ETF allocates 5.37% of its portfolio to Oklo. The Themes Uranium and Nuclear ETF maintains a 6.09% position.

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

The stock’s Benzinga Momentum score registers a modest 2.6, reflecting its positioning below multiple key moving averages entering the weekend trading session.