Oklo Inc. (NYSE: OKLO) shares stayed volatile on Tuesday, November 25, 2025, as a fresh Wall Street upgrade, heavy insider selling, and mounting short interest pulled investors in opposite directions.
By the close, Oklo stock was trading around $84–$85 per share, down roughly 5–6% from Monday’s $89.55 finish, after swinging between about $81.1 and $89.5 during the session. That leaves the nuclear microreactor developer more than 56% below its October high near $193, but still up more than 320% year‑to‑date, with a market value near $14 billion. [1]
Oklo Stock Price Today: A Brutal Comedown After a Parabolic Rally
- Today’s move (Nov 25, 2025):
- Last trade: roughly $84.4
- Day range: $81.16 – $89.47
- Change vs. Monday close ($89.55): about ‑5.7% [2]
- Big picture:
After a spectacular run that saw Oklo rally more than 3,300% from 2024 lows into its October peak, the stock has now entered a sharp corrective phase. Recent analysis from Invezz estimates that the company’s market capitalization has dropped from about $25.7 billion at the highs to roughly $13.7 billion — a $12–13 billion “wipeout” in just a few weeks. [5]
Tuesday’s decline came despite supportive headlines, including a higher Citi price target and renewed enthusiasm around nuclear’s role in powering AI data centers, underscoring just how fragile sentiment has become.
Citi Raises Oklo Price Target to $95 — But Stays on the Fence
One of the day’s most important catalysts came from Citigroup. Analyst Vikram Bagri:
- Raised his Oklo price target from $68 to $95,
- But maintained a Neutral/Hold rating on the stock. [6]
According to coverage of the note, Bagri praised Oklo for “executing on all fronts,” pointing to: [7]
- Progress on regulatory milestones and U.S. Department of Energy (DOE) approvals,
- A growing pipeline of Aurora microreactor projects,
- And especially the potential of Oklo’s radioisotope business (Atomic Alchemy) to generate revenue earlier than its first full‑scale reactors.
Citi’s modelling now explicitly bakes in upside from Atomic Alchemy, which aims to supply medical and industrial isotopes from advanced fuel‑recycling facilities. TS2 Tech
However, by sticking with a Neutral call, Citi is effectively telling clients that:
- There is upside from current levels, but
- Execution, valuation and regulatory risk remain significant for a still pre‑revenue nuclear start‑up.
The market’s reaction was telling: even after the target hike, Oklo traded more than 5–6% lower on the day, reinforcing the idea that investors are now more focused on risk than on blue‑sky projections. [8]
$13 Billion Market Cap Wipeout, Insider Selling and Soaring Short Interest
Behind today’s price action is a darker narrative that’s been building throughout November.
A widely circulated piece from Invezz/cryptorank highlights that: [9]
- Oklo’s market value fell from about $25.7B to $13.7B as the share price crashed from roughly $193 to the high‑$80s,
- Insiders sold around 803,000 shares over the last three months (over $70 million at recent prices), and more than 2.1 million shares (over $180 million) over the past 12 months,
- Sellers include CEO Jacob DeWitte, co‑founder Caroline Cochran, CLO William Goodwin, and director Michael Klein — though they still retain large residual stakes,
- Short interest has surged to roughly 9.2% of the float, up from just 0.03% in June, as more traders bet against the stock,
- The share count ballooned to about 156 million shares, from roughly 32.3 million last year, significantly diluting early holders.
This combination — heavy insider selling, rising short interest and substantial dilution — is a classic set‑up for volatility. While insider sales can be driven by personal liquidity rather than bearishness, the sheer scale of selling has clearly spooked a chunk of the market. [10]
Siemens Energy Partnership: Execution Risk Falls, Valuation Risk Rises
On the fundamental side, Oklo continues to rack up milestones that bulls argue justify a premium valuation.
On November 19, the company announced a binding contract with Siemens Energy to: [11]
- Design and deliver the power conversion system for Oklo’s first Aurora powerhouse at Idaho National Laboratory,
- Authorize Siemens to begin engineering, procurement and manufacturing for key long‑lead components.
A fresh Simply Wall St note published today argues that this partnership reduces execution risk in Oklo’s supply chain by locking in a heavyweight industrial partner, but also underscores how much future success is already priced into the shares: [12]
- Oklo’s price‑to‑book multiple of ~11.6x is labelled “overvalued” versus the U.S. utility peer average of about 1.9x,
- The stock is up roughly 310% year‑to‑date, even after a 34% drop this month, suggesting that expectations are still very ambitious.
These project milestones sit on top of earlier regulatory wins:
- Q3 2025 update (Nov 11): Oklo reported a loss of about $0.20 per share, wider than the $0.13 loss analysts expected, but ended the quarter with an estimated $1.18 billion in cash and marketable securities. TS2 Tech+1
- The company completed Phase 1 of its NRC readiness assessment for the Aurora combined license application with no major gaps flagged, and
- The DOE’s Idaho Operations Office approved the Nuclear Safety Design Agreement for Oklo’s Aurora Fuel Fabrication Facility — the first project approved under DOE’s new Fuel Line Pilot Projects program. TS2 Tech
Earlier this year, Oklo also unveiled plans for a $1.68 billion advanced fuel‑recycling facility in Tennessee, designed to: TS2 Tech+1
- Manufacture high‑assay low‑enriched uranium (HALEU) metal fuel for Aurora reactors,
- Support AI data centers co‑located with Oklo powerhouses,
- And build a domestic nuclear fuel supply chain less dependent on foreign suppliers.
Together with the Siemens contract, these moves support the bull case that Oklo is progressively turning a visionary slide deck into a funded, de‑risked project pipeline — but they don’t change the fact that meaningful revenue is still years away.
Nuclear Tailwinds: AI, Energy Security and Government Reactor Programs
Oklo’s story is plugged directly into some of the biggest macro trends in energy and technology.
A new Zacks/Nasdaq sector piece published today notes that: [13]
- Nuclear energy is expected by the International Energy Agency to nearly double its power contribution between 2020 and 2050,
- Annual investment in nuclear could rise from around $30 billion to more than $100 billion by 2030, remaining above $80 billion through mid‑century,
- Small modular reactors (SMRs) and microreactors — the category where Oklo operates — are forecast to expand rapidly as grids seek 24/7 clean power for AI data centers, EV charging and reshored manufacturing.
A separate piece from Interactive Brokers’ “Charged” recap adds a policy twist: the U.S. government may buy and own as many as 10 large nuclear reactors, using up to $80 billion of Japanese financing pledged for U.S. projects. Oklo appears alongside NuScale, Nano Nuclear and Cameco on the list of publicly traded nuclear names that could benefit from this renewed push. [14]
Even if Oklo doesn’t directly supply those big reactors, the message is clear: nuclear is back at the center of the energy‑security conversation, and companies positioned as scalable suppliers — especially those with a clear AI‑data‑center angle — are drawing intense attention.
Hedge Funds, Quants and Institutions: Still Buying the Story
Despite the selloff, institutional money is not walking away. Two fresh 13F‑driven alerts from MarketBeat today reveal that: [15]
- Cornerstone Capital Inc. opened a new position of 4,525 shares in Q2, worth about $253,000,
- Entropy Technologies LP disclosed a new stake of 9,612 shares, valued near $538,000.
These are small positions in dollar terms, but they add to a pattern of:
- New holdings by firms like Bank of New York Mellon, Victory Capital and others earlier this year,
- An overall institutional ownership level around 85% of outstanding shares, according to MarketBeat’s aggregation. [16]
On the quantitative side, analytics platform Danelfin currently rates Oklo a “High Risk” stock but with a strong AI score of 9 (Buy), noting a market cap just under $14 billion and 12% short float, with the share price up more than 320% over the last year despite the recent slide. [17]
Taken together, this suggests that professional and algorithmic investors are still actively trading and, in many cases, accumulating Oklo, even as others short it or take profits.
Jim Cramer and the Skeptics: “This Is Not a Blue Chip”
Not everyone is impressed.
In a new recap published early Tuesday, Insider Monkey highlighted Jim Cramer’s latest comments on Oklo. Cramer has repeatedly used the company as an example of how the “era of magical investing” is over: [18]
- He stresses that Oklo is pre‑revenue and faces 6–10‑year timelines to bring advanced reactors into commercial service,
- He questions how investors should treat “nuclear companies that don’t have any reactors operating yet,”
- He’s also reminded viewers that after a roughly 400% move in the shares, he saw it as a chance to “ring the register” rather than chase the rally.
Cramer’s stance doesn’t directly change ratings or price targets, but it influences retail sentiment, especially among investors who may have viewed Oklo as a quasi‑utility rather than an early‑stage, venture‑like bet trading on a public exchange.
Sector Pressure: Nuclear “Meltdown” and Technical Levels to Watch
Oklo’s slide today also came in the context of a broader nuclear‑stock pullback. A Benzinga update described a continuing “meltdown” across names like Oklo, NuScale Power (SMR) and Nano Nuclear Energy (NNE), with Oklo trading around $82 and down more than 8% intraday at one point. [19]
Short‑term traders are laser‑focused on the chart:
- Invezz’s analysis points out that Oklo has already broken below a classic head‑and‑shoulders pattern and the 50‑day exponential moving average, with momentum indicators (RSI, PPO) trending toward oversold territory. [20]
- A separate technical note from FXLeaders today frames the $80–$85 zone as key support. A decisive break lower could open the door to a slide toward the $60 area, while a successful defense could set the stage for a reflex rally or even a short squeeze if bears get crowded. [21]
With short interest above 9%, any unexpectedly positive regulatory or partnership news could trigger violent upside moves — but the same leverage works in reverse if sentiment continues to deteriorate. [22]
How Wall Street Rates Oklo Right Now
Based on consolidated data from MarketBeat and related coverage: [23]
- Consensus rating: roughly “Hold”
- Analyst distribution:
- 1 Strong Buy
- 8 Buy
- 8 Hold
- 3 Sell
- Average price target: around $106 per share, implying notable upside from today’s mid‑$80s level but also a wide dispersion of views.
Individual targets span from the $50s at the cautious end to around $175 for the most optimistic houses. Citi’s new $95 target now sits below this average but above many of the more skeptical fair‑value models. [24]
The takeaway: analysts agree that Oklo’s opportunity is huge — but they violently disagree on how much of that opportunity is already priced into the stock.
What Today’s News Means if You’re Watching OKLO
For investors and traders looking at Oklo on November 25, 2025, today’s news flow crystallizes a few key themes:
- Story still intact, but the stock is de‑rating.
- Citi’s higher target, the Siemens partnership and DOE/INL progress all reinforce the long‑term growth narrative. [25]
- Yet the market is now demanding a lower valuation multiple after a historic rally and amid rising macro uncertainty.
- Risk factors are front‑and‑center.
- The $13B+ drawdown, heavy insider selling, and jump in short interest to over 9% highlight the risk of further downside if sentiment weakens or timelines slip. [26]
- Oklo trades more like a venture‑stage tech bet than a boring utility.
- With no commercial reactors online and meaningful revenue likely years away, Oklo remains a high‑beta proxy for themes like AI energy demand, nuclear revitalization and national security — not a steady dividend play. [27]
- Volatility cuts both ways.
- A crowded short book plus an enthusiastic base of institutional and quant buyers means big moves in either direction are possible, especially around future regulatory or partnership headlines. [28]
Bottom Line: High‑Conviction Story, High‑Risk Stock
Oklo sits at the crossroads of advanced nuclear, AI infrastructure and energy security — three themes that could define the next few decades of global power markets. That’s why the company has been able to command a double‑digit price‑to‑book multiple and a multi‑billion‑dollar valuation well before its first reactor goes live. [29]
But the events leading into and including November 25, 2025 also show the other side of that coin:
- A $13B+ value destruction in weeks,
- Intensifying short interest and insider selling,
- And a growing chorus of skeptics, from cautious analysts to TV personalities like Jim Cramer, who warn that multi‑year build times and regulatory risk make this anything but a traditional “safe” stock. [30]
For anyone following OKLO, the key is to treat it for what it is: a speculative, long‑duration energy technology bet trading in public markets, not a conventional income utility.
If the Aurora reactors, fuel‑recycling facilities and Siemens‑backed projects execute on time and on budget, today’s drawdown could eventually look like a dramatic buying opportunity. If not, the combination of rich valuation, dilution and long lead times could continue to weigh on the shares.
References
1. www.indmoney.com, 2. www.indmoney.com, 3. www.marketbeat.com, 4. simplywall.st, 5. cryptorank.io, 6. www.tipranks.com, 7. www.tipranks.com, 8. www.tipranks.com, 9. cryptorank.io, 10. cryptorank.io, 11. simplywall.st, 12. simplywall.st, 13. www.nasdaq.com, 14. www.interactivebrokers.com, 15. www.marketbeat.com, 16. www.marketbeat.com, 17. danelfin.com, 18. www.insidermonkey.com, 19. www.benzinga.com, 20. cryptorank.io, 21. www.fxleaders.com, 22. cryptorank.io, 23. www.marketbeat.com, 24. www.tipranks.com, 25. www.tipranks.com, 26. cryptorank.io, 27. www.nasdaq.com, 28. danelfin.com, 29. simplywall.st, 30. cryptorank.io
