Why Is Oklo Stock Gaining Thursday?

Oklo Inc. (NYSE:OKLO) stock rose Friday in premarket trading as investors showed renewed interest in nuclear power stocks. Nasdaq futures rose 0.54%, while S&P 500 futures gained 0.05%.The move comes after the U.S. House passed the Ratepayer Protection Act. The bill aims to shield residential customers from higher electricity bills by shifting certain power generation and transmission costs tied to surging AI data center demand toward large data centers.The House vote has put a spotlight on nuclear and advanced reactor developers that could help power energy-intensive AI data centers. Technology companies are seeking reliable electricity sources as they expand AI infrastructure.Oklo is among the companies drawing attention. It is developing advanced fission power plants to supply reliable, clean energy. Its Aurora powerhouse uses liquid-metal fast-reactor technology and is designed to generate up to 15 megawatts of electricity using fresh or recycled nuclear fuel. See More: Top Momentum Stocks Oklo Technical AnalysisOklo remains in a longer-term downtrend despite Friday’s early gain.The stock is 0.2% below its 20-day simple moving average of $40.06 and 5.1% below its 50-day SMA of $42.12. It also trades 23.6% below its 100-day SMA of $52.30 and 36.3% below its 200-day SMA of $62.74.Meanwhile, the relative strength index stands at 48.04. That puts momentum in neutral territory.Traders could watch $45 as a resistance area. Support sits near $39.50.Analyst OutlookOklo carries a Buy consensus rating and an average price forecast of $85.46.Piper Sandler initiated coverage with an Overweight rating and a $55 price forecast on Sept. 9. Truist Securities maintained a Hold rating and lowered its forecast to $51 on Aug. 10. Citigroup maintained a Neutral rating and cut its forecast to $57.50 on the same day.Benzinga Edge RankingsOklo has a weak Momentum score of 2.6 on the Benzinga Edge scorecard. The reading reflects the stock’s position below several major moving averages.Oklo ETF ExposureThe Global X Uranium ETF (NYSE:URA) has a 5.37% weighting in Oklo, while the Themes Uranium & Nuclear ETF (NASDAQ:URAN) has a 6.09% weighting.That exposure can link Oklo’s trading activity to fund flows across uranium- and nuclear-focused ETFs.OKLO Price ActionOklo shares were up 0.63% at $39.90 during Friday’s premarket session, according to Benzinga Pro data.Photo via Shutterstock Read Also: Stock Market Today: S&P 500, Nasdaq 100 Futures Rise as Trump Weighs 'Big Decision' on Iran Military Strikes— OKLO, MCD, BB, NUE in Focus