Here's a plan that sounds simple in theory but is pretty ambitious in the world of nuclear energy: put two key parts of the fuel-making process right next to each other. That's what Oklo Inc. (OKLO) and Centrus Energy Corp. (LEU) said they're exploring on Monday. The two companies are looking at forming a joint venture focused on what's called deconversion services for high-assay low-enriched uranium, or HALEU, along with other fuel-cycle tech.
Think of it as a one-stop shop for advanced nuclear fuel. The proposed venture would be located at Centrus's existing site in Piketon, Ohio, which happens to be near where Oklo is planning to build a 1.2-gigawatt power campus. The big idea is to physically link uranium enrichment (which Centrus does) with the subsequent deconversion process. The goal? To cut out some transportation and logistical headaches, hopefully making the whole operation more efficient, cheaper, and a bigger contributor to the domestic nuclear fuel supply chain.
"Advanced nuclear energy development requires not only reactors but also reliable fuel-cycle capabilities that support those reactors," said Oklo CEO Jacob DeWitte, hitting on a key point. You can't just build fancy new reactors; you need a steady, secure pipeline of the specialized fuel they run on.
Centrus CEO Amir Vexler echoed that, saying the initiative supports efforts to rebuild the U.S. nuclear fuel supply chain and meet the growing demand for advanced reactor fuels. The companies also said they plan to work together on navigating regulations and talking to federal agencies, which is basically a requirement for any major nuclear infrastructure project.
What's Going On With Oklo's Stock?
While the companies are making plans for the future, Oklo's stock has been having a rough time in the present. Let's look at the numbers.
Technically, the stock is trading 11.5% below its 20-day simple moving average and a hefty 38.6% below its 100-day SMA. That paints a picture of a bearish trend over the medium term. The stock has fallen a long way from its 52-week high of $193.84 and is now trading much closer to its 52-week low of $17.42.
The indicators, however, are giving mixed signals. The Relative Strength Index (RSI) is at 37.07, which suggests the stock isn't in overbought or oversold territory—it's kind of in the middle. More interesting is the Moving Average Convergence Divergence (MACD), which is showing a bullish crossover. The MACD line is at -4.7169, which is above the signal line at -4.9477. That hint of upward momentum is a notable contrast to the recent price declines.
What Are the Analysts Saying?
The overall analyst consensus for Oklo is still a Buy rating, with an average price target of $110.88. That's a significant premium to where it's trading now, implying a lot of faith in the company's long-term story. Recent analyst actions show a mix of adjustments and initiations:
- Barclays: Maintained an Overweight rating but lowered its price target to $82.00 on February 24.
- Texas Capital Securities: Initiated coverage with a Buy rating and a $138.00 price target on January 28.
- B of A Securities: Upgraded the stock to Buy and raised its price target to $127.00 on January 21.
Looking ahead, the company is scheduled to report earnings on March 17, 2026. The current EPS estimate is for a loss of 17 cents per share, which would be a wider loss compared to the 9 cents per share loss from the year-ago period.
ETF Exposure: A Built-In Market Force
One quirk of Oklo's market presence is its heavy weighting in certain exchange-traded funds (ETFs). This isn't just a trivia fact; it can directly influence trading. Because these ETFs have to track their indexes, big inflows or outflows of investor money into the funds force automatic buying or selling of the underlying stocks.
Oklo is a notable holding in:
In other words, if investors get bullish on nuclear energy and pile into the URA ETF, the fund's managers will have to go out and buy more Oklo shares to keep up, regardless of Oklo-specific news that day. It's a passive, mechanical demand that can move the stock.
Oklo shares were up 0.76% at $58.69 at the time of publication on Monday.
