TLDR
- Oklo stock rose over 11% on Thursday after the U.S. House passed the Ratepayer Protection Act by a 417-3 vote
- The Act requires data centers using over 100 megawatts to cover their own grid and power costs, rather than passing them to households
- X-Energy led the nuclear rally, jumping 12.08% to $16.33, while NuScale Power gained 8.92%
- Oklo carries a Buy consensus rating with an average analyst price target of $85.46
- Oklo remains below its 20, 50, 100, and 200-day moving averages despite the recent pop
Oklo (OKLO) stock surged 11.31% on Thursday after the U.S. House of Representatives passed the Ratepayer Protection Act by a near-unanimous vote of 417 to 3. The stock was trading around $39.90 in Friday premarket, up 0.63%.
The legislation requires data centers that consume more than 100 megawatts of electricity to cover the extra grid and power supply costs themselves. The goal is to prevent those costs from being pushed onto households and small businesses through higher electricity bills.
Brett Guthrie, chair of the U.S. House Committee on Energy and Commerce, said the Act ensures “the companies who are building data centers and not American families and small businesses are paying for the electricity they use.”
The bill put nuclear and advanced reactor developers front and center. If data centers face higher costs for grid connection, operators may turn to behind-the-meter energy solutions like small modular reactors.
That is where Oklo comes in. The company is developing the Aurora powerhouse, which uses liquid-metal fast-reactor technology and can generate up to 15 megawatts of electricity from fresh or recycled nuclear fuel.
Oklo was not the only winner on Thursday. X-Energy jumped 12.08% to $16.33, leading the group. NuScale Power climbed 8.92%. Fuel cell developers also saw gains on the back of the news.
X-Energy currently offers the most upside of the three, with an average analyst price target of $33.71, implying around 106% gains from current levels. That comes with a Moderate Buy rating on Wall Street.
What Analysts Think of Oklo
Oklo carries a Buy consensus rating with an average price target of $85.46. Piper Sandler started coverage on Sept. 9 with an Overweight rating and a $55 target. Truist Securities held its Hold rating but cut its target to $51 on Aug. 10. Citigroup kept its Neutral rating and trimmed its target to $57.50 on the same date.
Despite the rally, Oklo’s technical picture remains under pressure. The stock sits 5.1% below its 50-day moving average and 36.3% below its 200-day moving average of $62.74. Its relative strength index stands at 48.04, placing momentum in neutral territory.
ETF Exposure
Oklo has meaningful exposure through nuclear-focused ETFs. The Global X Uranium ETF holds a 5.37% weighting in Oklo. The Themes Uranium and Nuclear ETF carries a 6.09% weighting.
Traders are watching $45 as the next resistance level, with support sitting near $39.50.
The stock’s Benzinga Momentum score sits at a weak 2.6, reflecting its position below several key moving averages heading into the weekend.
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