- Cathie Wood’s ARK Investment Management bought 100,854 shares of Oklo Inc. (OKLO) and 545,453 shares of X-energy Inc. (XE) across multiple ETFs.
- Truist analyst Christopher Souther initiated coverage of Oklo with a Hold rating and a $55 price target, implying about 20% upside.
- XE stock has plunged more than 47% below its IPO price, but Wood’s fund has been rapidly accumulating shares since the start of the month.
Shares of Oklo Inc. and X-energy Inc. edged higher in Tuesday’s premarket session as Cathie Wood’s ARK Investment Management increased its stakes in the nuclear energy companies. OKLO stock was up more than 1% at the time of writing, while XE stock gained over 2%.
The firm’s ARK Autonomous Technology & Robotics ETF bought 100,854 shares of OKLO, valued at about $4.7 million, according to the company’s trade notification. Meanwhile, according to a report from TheFly, Truist analyst Christopher Souther initiated coverage of Oklo with a Hold rating and a $55 price target, implying roughly 20% upside from its last close.
The analyst also placed Hold ratings on NuScale Power and Nano Nuclear Energy, noting that the companies’ first-of-a-kind projects are moving toward execution. While customer demand and policy support continue to improve, proof of execution will be the key catalyst for sector leadership.
Ark Invest also bought approximately 545,453 shares of XE across three of its ETFs, worth about $8.7 million in total. Wood’s fund has been rapidly accumulating XE stock since the start of the month, even as the company’s shares have plunged more than 47% below the IPO price.
The buying spree comes amid renewed spotlight on nuclear energy stocks, driven by growing electricity demand from AI infrastructure and supportive policy measures. On Stocktwits, retail sentiment around OKLO stock was neutral, while it was bullish for XE stock, with chatter for both tickers soaring over 24 hours.
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