Oklo (OKLO) stock has been in a sharp downtrend since the start of 2026 as rising uranium prices threaten to compress the viability of small modular nuclear reactors. The selloff accelerated this week following news that OKLO’s chief executive, Jacob DeWitte, and chief of finance, Richard Bealmear, have sold more than $2 million worth of company shares in February.
At the time of writing, OKLO shares are down more than 60% versus their record high in October 2025. Still, a senior Canaccord Genuity analyst believes they could nearly triple from here over the next 12 months.
Why Canaccord Remains Uber Bullish on Oklo Stock
While OKLO stock has tanked decisively below its major moving averages (MAs) in recent weeks, Canaccord’s George Gianarikas continues to see it hitting $175 by the end of this year.
His exceptionally bullish view is grounded in the belief that current uranium panic is a temporary hurdle compared to the generational shift toward carbon-free baseload power.
In a recent note to clients, Gianarikas argued OKLO’s vertically integrated business model, in which it builds, owns, and operates the reactors, is a structural advantage over competitors.
Controlling the entire lifecycle of the energy delivery positions OKLO to capture higher margins that offset the rising costs of raw fissile material, making the YTD weakness a disconnect from long-term value.
Oklo Shares Are Strategically Positioned Within AI Ecosystem
Canaccord Genuity recommends loading up on OKLO shares at the current, oversold levels also because the company is strategically positioned within the AI-Nuclear Nexus.
While the nuclear energy stock seems to have lost momentum in 2026, the demand for 24/7 power from data center giants remains insatiable.
Gianarikas underscored OKLO’s pipeline, including its massive 1.2-gigawatt agreement with Meta Platforms (META), which represents a “deftly constructed strategy” that few other SMR players can match.
With a cash war chest of over $1 billion and a pivotal criticality test scheduled for July, OKLO’s current stock price ignores the massive revenue potential waiting once the first Aurora powerhouse goes live, he concluded.
What’s the Consensus Rating on Oklo?
While not nearly as bullish as Canaccord Genuity, other Wall Street firms also agree that the selloff in OKLO stock has gone a bit too far.
The consensus rating on OKLO shares sits at “Moderate Buy” currently, with the mean target of about $113 indicating potential upside of nearly 70% from here.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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