Oklo Inc. (Oklo (OKLO)) shares took a dip of nearly 8% on Tuesday, as investors decided to cash in some chips ahead of the company's first-quarter 2026 earnings report. The stock has been on a tear — up more than 170% over the past year — so a little profit-taking is hardly a surprise.
The company is set to report after the market closes on May 12, with a conference call to follow. Wall Street is expecting a loss of 18 cents per share, but revenue is projected to climb to $239.88 million from $224.08 million a year earlier, according to market data.
Even with Tuesday's decline, the stock is still trading above its 20-day and 50-day simple moving averages — 8.9% above the 20-day SMA of $69.78 and 24.3% above the 50-day SMA of $61.13. That suggests the short-term momentum is still intact. However, it's sitting 12.2% below its 200-day SMA of $86.51, which could act as a resistance level if the stock tries to rally further.
The MACD indicator is currently above its signal line, which is a positive sign. It suggests that the downward pressure is easing and that momentum might be turning back in favor of the bulls.
Oklo and Idaho National Laboratory: AI Meets Nuclear
Separately, Oklo announced a partnership with Battelle Energy Alliance, the operator of Idaho National Laboratory (INL), to use AI-powered engineering tools to speed up the design of advanced nuclear reactors. The project will integrate INL's Prometheus AI platform with Oklo's design infrastructure to support the development of Pluto, a plutonium-fueled reactor system under the Department of Energy's Reactor Pilot Program.
Oklo says the collaboration will streamline modeling, simulation, and technical documentation workflows — while keeping humans in the loop for oversight. It's a smart move: AI can crunch through design iterations faster than any human team, but you still want a person signing off on anything involving plutonium.
What the Analysts Are Saying
Wall Street is still bullish on Oklo. The stock carries a Buy rating with an average price target of $102.77. Recent analyst moves include:
- JP Morgan: Initiated with Neutral, price target $83.00 (May 11)
- Tigress Financial: Initiated with Buy, price target $130.00 (April 27)
- HSBC: Initiated with Buy, price target $96.00 (April 23)
That's a wide range — from $83 to $130 — which reflects the uncertainty around a company that's still pre-revenue in a big way, but has huge potential if its reactor designs get approved.
Momentum and Market Position
Oklo's momentum score on market data tools is a bullish 89.01, meaning the stock is outperforming the broader market by a wide margin. That kind of momentum can attract more investors, especially as the company moves forward with its innovative projects.
For ETF investors, Oklo is a significant holding in the Global X Uranium ETF (URA), with a 5.87% weighting. That means any big inflows or outflows from that ETF will automatically trigger buying or selling of Oklo shares — something to keep an eye on.
Price Action: Oklo shares were down 7.99% at $71.89 at the time of publication on Tuesday, according to market data.
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