U.S. advanced nuclear technology company Oklo (OKLO) saw its stock rocket higher on Friday alongside a green stock rally. With that comes an 18.26% increase in the OKLO share price, placing it at $25.88 as of this writing. This has the stock closing in on its all-time high of $26.56 per share, which was reached in November 2024.
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Today’s rally comes with strong trading for OKLO stock as nearly 10 million units change hands. However, that’s still below the company’s three-month daily average trading volume of about 16 million shares.
Why is OKLO Stock Up Today?
Oklo stock is rallying today without any clear news from the company or analyst. However, investors are seeing a broader rally among green energy stocks. Additionally, the stock market is performing well on Friday with the S&P 500 (SPX) up more than 1% and the Dow Jones Industrial Average (DJIA) rising over 0.6% as of this writing.
The positive stock market movement today is lifting shares across various sectors as it breaks free from a losing streak. December was a rough month for the market as investor confidence was shot following the last Federal Reserve meeting. That sent the market falling in the second half of the month. However, it appears stocks are starting to get over that slump as they head into the new year.
Is OKLO Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Oklo is Moderate Buy based on one Buy and one Hold rating over the last three months. With that comes an average price target of $10, representing a potential 61.04% downside for the shares. However, four-star Wedbush analyst Daniel Ives has a Buy rating and a $26 price target for the shares.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
