Shares of advanced nuclear technology company Oklo Inc (NYSE:OKLO) are trading higher Thursday, hitting a new 52-week high, after the company announced a strategic alliance with Liberty Energy Inc (NYSE:LBRT) on Wednesday.
What To Know: The partnership is designed to accelerate the delivery of integrated power solutions for large-scale, high-demand customers like data centers and industrial sites.
The collaboration will provide clients with a comprehensive, turnkey power solution. In the near term, Liberty Energy will deploy its Forte natural gas power generation systems to meet immediate energy needs.
This initial phase serves as a bridge to the long-term goal of integrating Oklo's Aurora nuclear powerhouses, which will provide zero-carbon, continuous baseload energy. This two-phase approach offers customers a clear and managed transition to sustainable power.
“This collaboration gives large-scale power users a turnkey alternative that integrates generation, backup, grid interaction, and optimization, all through a single provider,” said Jacob DeWitte, co-founder and CEO of Oklo.
The announcement adds to recent positive developments for Oklo, including a collaboration with power solutions firm Vertiv Holdings Co (NYSE:VRT).
Investor optimism was further bolstered this week when Citigroup analyst Vikram Bagri maintained a Neutral rating on Oklo but more than doubled the price target from $30 to $68. Liberty was additionally an early investor, committing $10 million to Oklo in 2023.
Price Action: According to data from Benzinga Pro, OKLO shares are trading higher by 11.3% to $74.56 Thursday morning. The stock has a 52-week high of $76.43 and a 52-week low of $5.35.
Read Also: Energy Fuels Stock Soars As DOE Launches Domestic Nuclear Fuel Initiative
How To Buy OKLO Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Oklo’s case, it is in the Utilities sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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