New York, January 21, 2026, 18:08 EST — After-hours
- Oklo gained roughly 1%, closing the after-hours session at $90.78 following some volatility during regular trading
- BofA upgraded its rating to Buy and bumped up the price target to $127
- Traders are focused on the timing of power contracts, the progress of licensing, and upcoming funding requirements
Oklo Inc. shares climbed roughly 1% to $90.78 in after-hours trading Wednesday, fueled by a Bank of America upgrade that reignited investor interest after a volatile day. The stock swung from a low of $86.04 to a high of $100.10, with around 24.2 million shares traded.
The upgrade comes as investors are zeroing in on “firm power” — energy sources that deliver nonstop electricity — amid expanding U.S. data centers pushing regional grids to their limits. Oklo fits the high-beta profile here: long development cycles, strict regulation, and sharp spikes in demand whenever a major counterparty appears.
BofA Securities raised its rating on Oklo from Neutral to Buy, lifting the price target to $127 from $111, analyst Dimple Gosai said. The Meta deal marked a shift from “concept” to “execution,” Gosai noted, highlighting $25 million in customer prepayments tied to the initial 150-megawatt phase. These funds will cover early expenses like fuel procurement and site prep. Oklo’s shares jumped over 4% in premarket before trimming gains. (Investing)
Oklo’s stock is up roughly 26% this year, though the gains have been uneven. Momentum traders have been swift to jump on positive news but just as fast to cash out when progress stalls. (Investors)
On Jan. 9, Oklo and Meta announced a deal to develop a 1.2-gigawatt nuclear power campus in Pike County, Ohio, on land Oklo confirmed it had acquired. Oklo plans to kick off pre-construction and site characterization by 2026. The first phase aims to be operational as soon as 2030, with the complete facility expected by 2034. (Oklo)
Meta, aiming to secure long-term energy for its data centers, inked 20-year deals to purchase electricity from three Vistra nuclear plants. The company also plans to team up with Oklo and TerraPower to develop small modular reactors — compact nuclear units designed to be more easily replicated than traditional reactors. (Reuters)
BofA pointed out the gap between announcement and execution. The bank noted the structure allows Oklo to begin work before securing final power purchase agreements, or PPAs — long-term contracts that define electricity sales terms — and prior to obtaining licensing approvals, even as investors examine refund terms linked to prepayments and potential equity issuance that might dilute shareholders.
The downside is clear: nuclear projects drag, regulators delay, and financing costs rise if risk appetite cools. Should the next batch of contracts fall short or capital demands push new stock sales, the shares might lose ground fast.
Oklo hasn’t specified a date for its next earnings announcement, though the Zacks calendar pins it for March 23. In the meantime, any news on PPAs, permits, or Ohio site progress could move the needle. (Zacks)
