OKLO Jumps After DOE Clears Groves-1 to Run Without Restrictions

Oklo Inc. (NYSE:OKLO) shares were up about 4% in early trading Wednesday after the U.S. Department of Energy cleared the final operations hold point for the company’s Groves Isotope Test Reactor.

The clearance allows Groves-1 to move into unrestricted research, testing and training operations. The stock had jumped nearly 7% in premarket trading.

DOE Clearance Moves Groves-1 Into Operations

Groves-1 reached first criticality at low power in August under the DOE Reactor Pilot Program, less than a year after groundbreaking.

Oklo said the reactor will now support personnel training, equipment testing and system evaluations tied to future isotope reactors and its Aurora fast fission powerhouses.

The company also plans to use Groves-1 for criticality and reactivity benchmarking that could support isotope production, engineering models and future reactor designs.

Groves-1 Supports Broader Deployment Plans

Operating experience from Groves-1 will also inform Groves-2 Forge, Oklo’s planned isotope production and processing pilot facility selected under the DOE’s Nuclear Energy Launch Pad initiative.

Groves-2 Forge is expected to combine reactor irradiation with isotope separation, product recovery, packaging and transportation, initially focusing on lutetium-177 used in targeted cancer treatments.

“Now we’re building on that experience by operating the reactor, testing new capabilities, and learning directly from the work,” Oklo CEO and co-founder Jacob DeWitte said.

The milestone follows other recent execution updates. Oklo reported third-quarter revenue of $1.86 million, above the $1.02 million estimate, and ended the quarter with $3.13 billion in cash, cash equivalents and marketable securities.

The company has also started structural construction on its 75-megawatt Aurora powerhouse in Idaho and reserved manufacturing capacity for 27 Aurora reactor modules planned for deployment between 2030 and 2035.

OKLO Technicals Show Short-Term Improvement

Oklo presents a mixed technical setup, with the stock trading above its 20-day SMA but still well below longer-term moving averages.

RSI stands at 42.75, indicating neutral momentum, while MACD remains above its signal line, pointing to improving short-term strength.

Key Resistance: $27.50. A sustained move above that level could strengthen the near-term setup.

The longer-term trend remains weak. A February death cross, when the 50-day SMA fell below the 200-day SMA, is still in place.

Oklo has declined about 76% over the past 12 months and sits less than 8% above the bottom of its 52-week range, keeping the stock close to its lows despite the recent bounce.

Analyst Outlook Remains Bullish

Oklo carries a consensus Buy rating with an average price forecast of $83.68.

Recent analyst actions on Nov. 9 include Canaccord Genuity maintaining a Buy rating while lowering its price target from $100 to $66, Wedbush reiterating an Outperform rating with a $36 price target and HC Wainwright reiterating a Buy rating with a $90 price target.

OKLO Price Action: Oklo shares were up 4.22% at $26.15 at the time of publication Wednesday, according to Benzinga Pro data.

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