Oklo Inc. shares rose 1.64% to $59.36 on Tuesday, bucking a broader market decline, as investors reacted positively to the company's recent progress in securing nuclear fuel supply. The S&P 500 was down 1% during the session. The stock movement follows the signing of a Letter of Intent with Centrus Energy Corp. to secure domestic high-assay low-enriched uranium (HALEU) for Oklo’s planned 1.2 GW clean energy campus in southern Ohio. The agreement anticipates a future definitive contract and could include prepayments from Oklo to support fuel supply for the campus buildout. Centrus will supply enough HALEU to power up to five Aurora powerhouses for multiple years, with deliveries scheduled to begin in 2029. This arrangement is viewed as one of the early large-scale HALEU agreements and aligns with Oklo’s strategy to pair commercial power sales with fuel recycling services.

Strategic Alignment and Deployment

The development aligns Centrus’s enrichment capabilities at its American Centrifuge Plant in Pike County with Oklo’s planned Aurora powerhouse campus. Oklo also entered a Memorandum of Understanding with Kiewit Nuclear Solutions Co. to support engineering, procurement, and construction planning for the initial deployments in southern Ohio. Oklo's Aurora powerhouses are designed to provide reliable clean power under a build-own-operate model, using liquid-metal cooling with low-water requirements.

Technical Analysis and Price Action

Despite the gains, Oklo stock remains in a downtrend, trading 4.4% below its 20-day SMA ($62.06), 9.3% below its 50-day SMA ($65.43), and 30.1% below its 200-day SMA ($84.92). A "death cross" formed in February when the 50-day SMA dropped below the 200-day SMA. The Relative Strength Index (RSI) stands at 47.61, indicating neutral momentum as the market searches for direction. Traders are watching key resistance at $66.00, near the 50-day SMA, and support at $53.50, which sits above the 52-week low of $44.88. The 2029 delivery target for HALEU serves as a concrete timeline anchor for the project's execution.

Project Overview

Oklo Inc. (NYSE: OKLO) shares traded lower on Tuesday after the advanced nuclear company announced a strategic alliance with Standard Nuclear, an independent nuclear fuel and power systems company. The companies signed a memorandum of understanding to explore nuclear fuel recycling and advanced fuel manufacturing. Investors might also be weighing recent insider sales by Oklo's CEO, COO, and CFO alongside the non-binding partnership news. Oklo shares were down 3.38% at $58.68 at the time of publication on Tuesday.

The partnership aims to strengthen the domestic nuclear fuel supply chain by recycling used nuclear fuel and responsibly utilizing U.S. surplus plutonium. This collaboration marks Oklo's first third-party offtake pathway for recycled materials. The companies plan to evaluate product specifications, commercial terms, and delivery schedules for materials sourced from Oklo's planned fuel recycling facility in Oak Ridge, Tennessee.

Strategic Collaboration Areas

The agreement outlines two primary areas of cooperation:

• Recycled nuclear material offtake: The companies will jointly evaluate the commercial viability of supplying reprocessed uranium (RepU) and uranium-transuranic material (U/TRU) streams from used nuclear fuel for TRISO fuel manufacturing.
• Surplus plutonium fuel collaboration: The MOU creates a framework to explore the responsible use of U.S. surplus plutonium for advanced reactor fuel. The companies intend to evaluate opportunities to collaborate on facilities, licensing, packaging, and transportation.

The U.S. Department of Energy selected both companies for advanced negotiations under its Surplus Plutonium Utilization Program. Oklo co-founder and CEO Jacob DeWitte stated that the company's fuel strategy is built around turning used nuclear fuel and surplus nuclear materials into usable fuel. He added that the collaboration helps support the domestic supply chains needed to deploy advanced nuclear at scale.

Market Data and Analyst Outlook

Short interest in Oklo fell to 27.37 million shares from 35.08 million in the latest reporting period, leaving 18.02% of the company's float sold short. Based on the average daily volume of 14.54 million shares, short sellers would need about 1.88 days to cover remaining positions. Currently, the stock is trading approximately 3.9% below its 20-day simple moving average (SMA) of $62.70 and 6.5% below its 50-day SMA of $64.40. The stock has declined 10.90% over the past 12 months, and the relative strength index (RSI) sits at 47.89, indicating neutral momentum.

Oklo is slated to provide its next financial update on August 10, 2026 (estimated). The stock carries a Buy rating with an average price target of $97.60. Recent analyst moves include UBS lowering its target to $55.00 with a Neutral rating on June 11, Wedbush maintaining an Outperform rating with a target of $110.00 on May 27, and Wolfe Research initiating coverage with a Peer Perform rating on May 19.