Oklo Inc.
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Range $55 – $130
Price Chart
About the company
Oklo Inc. develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to customers in the United States. The company’s primary offering is the Aurora powerhouse, which is designed to produce between 15 and up to 75 megawatts of electricity.
- CEO
- Jacob DeWitte
- IPO
- 2021
- Employees
- 215
- HQ
- Santa Clara, CA, US
AI snapshot
Six angles, distilled from the data.
The stock remains in a deep corrective regime after a huge run, still well below its 200-day average and far under the 52-week high. That keeps the setup in repair mode, with recent trading closer to the lower end of the yearly range than to a sustained uptrend.
Street sentiment is constructive but not euphoric: the consensus is Buy, with an average target of 84.57 versus a 80 median. Recent action has been mixed, with several firms trimming targets while mostly keeping neutral-to-bullish ratings, which points to support but less urgency than earlier in the year.
The earnings profile is still challenged, with 1 of the last 8 quarters beating and the latest quarter missing by 64.7%. Analysts still expect negative EPS next year at -0.9386, so shareholders should watch for any improvement in loss trajectory rather than a near-term profit inflection.
Recent insider activity leans clearly to selling, led by large discretionary sales from the co-founder/COO and the CFO. The M-Exempt entries look like award or vesting-related noise, but the repeated S-Sale transactions point to meaningful distribution rather than accumulation.
Profitability remains weak, with a -60.5% operating margin and negative ROE of -7.7%. The balance sheet is the offset: cash and equivalents of $1.228 billion versus just $1.45 million of debt gives the company substantial runway despite negative free cash flow of $48.97 million.
Oklo sits in the higher-risk, higher-duration end of the independent power producer group, where execution matters more than current earnings power. The valuation still reflects that optionality, with a market cap of $7.72 billion despite negative margins and losses.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $7.29B
- P/E
- -44.12
- PEG
- 0.38
- P/S
- 6027.13
- P/B
- 2.26
- EV/EBITDA
- -37.05
- Div Yield
- 0.00%
- Gross Margin
- 26.94%
- Op Margin
- -18003.64%
- Net Margin
- -12625.54%
- ROE
- -7.11%
- ROIC
- -6.56%
Latest fiscal year · YoY change
- Revenue
- $0+0.0%
- Gross Profit
- $0+0.0%
- Op Income
- $-139,294,000
- Net Income
- $-105,663,000-43.5%
- EPS
- $-0.72-35.8%
- OCF Growth
- -114.1%
- FCF Growth
- -197.8%
- 52W High
- $193.84
- 52W Low
- $36.61
- 50D MA
- $47.93
- 200D MA
- $69.06
- Beta
- 1.20
- RSI (14)
- 44
- Avg Volume
- 10.93M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Oklo said it is moving from strategy to execution, with Groves reaching first criticality, Aurora INL advancing toward 2028 startup, and 2026 spending being pulled forward to secure critical-path work.· August 7, 2026
- Groves reached first criticality and management said the greenfield-to-criticality timeline was under a year, which they believe validates Oklo’s execution model.
- Aurora INL got DOE approval of the Preliminary Documented Safety Analysis, while site mobilization, excavation, procurement and grid-interconnection work continue.
- Oklo updated 2026 cash-flow guidance upward: operating cash use now expected at $120 million to $150 million and PP&E spend at $400 million to $500 million.
- The balance sheet remains strong, with cash and marketable securities of $3 billion at quarter-end, including $1.9 billion raised through ATM programs in 2026.
- Fuel optionality improved with the Centrus LOI, potential DOE plutonium allocations, EBR-II material, and ongoing recycling/fabrication work; isotope revenue is still early but first revenue is expected next year from the Idaho lab.
Oklo did not give quarterly revenue or EPS on this call. Year-to-date net loss for Q2 2026 was $81.6 million, including $124.2 million of loss from operations offset by $44.5 million of net interest and dividend income. Year-to-date cash used in operating activities was $65.5 million, cash used in investing activities was $912.7 million, and capital spend was $126.9 million. The company ended Q2 with $3 billion of cash and marketable securities, consisting of $1.6 billion of cash and cash equivalents and $1.4 billion of marketable securities. Management raised 2026 cash flow guidance. Cash used in operating activities is now expected to be $120 million to $150 million, up from $80 million to $100 million, and cash used for purchases of PP&E is now expected to be $400 million to $500 million, up from $350 million to $450 million. The higher spend is tied mainly to Aurora INL, grid interconnection work, early deployment costs on other projects, and an opportunistic fuel purchase for future isotope projects. Aurora INL is still targeted for 2028 startup.
Jake Dewitte emphasized that Oklo is building one integrated platform across power, fuel and isotopes rather than separate businesses. He framed Groves as a major proof point for the company’s build-own-operate model, saying the project created reusable execution capability across licensing, construction, procurement, operations and project controls. His tone was highly confident and expansive, especially on fuel optionality and the long-term value of recycling and isotopes.
Craig Bealmear focused on liquidity, spend timing and execution risk management. He highlighted the quarter-end $3 billion of cash and marketable securities, including $1.9 billion raised through ATM programs in 2026, and explained that Oklo is intentionally bringing forward select project activities to improve execution confidence. He said the higher operating cash use reflects first-of-a-kind Aurora INL costs, grid interconnection spending and early-stage deployment costs, while the higher PP&E range reflects accelerated procurement and construction plus an opportunistic fuel purchase. He also said the updated plan is supported by current liquidity and does not represent a higher general corporate burn.
Analysts focused on plutonium as bridge fuel, the isotope revenue timeline, the order of fuel pathways, capital spending at Aurora INL, customer capital participation, and PJM interconnection risk. Management said plutonium allocation timing is not under Oklo’s control, but the company is progressing a multi-path fuel strategy that includes Centrus HALEU, DOE materials, plutonium and recycling. On isotopes, Jake said R&D quantities from Groves should come in about 12 months, while Craig said first revenue is more likely to come from the Idaho lab, probably in the first part of next year. On interconnection, Craig said Oklo is active in PJM with more than one opportunity and is not relying on a single path to get power onto the grid.
The strongest bull case from the call is that Oklo is now showing real execution, not just licensing or design work: Groves reached first criticality and Aurora INL continues to move through DOE milestones. Management also argued that fuel supply is becoming more de-risked, with multiple pathways under development and the Centrus LOI potentially supporting up to 5 Aurora powerhouses. The company still has substantial liquidity to fund its buildout and said it can pull forward work without jeopardizing the balance sheet.
The main bear case is that much of the future still depends on execution, approvals and partnerships that are not fully locked in. Management said plutonium allocation timing is not under Oklo’s control, first isotope revenue is likely not until next year, and Aurora INL cost guidance is still not final because the total project cost is still being narrowed with Kiewit. Interconnection is also a watch point, and the company is spending more cash and PP&E this year to stay ahead of critical-path risks.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 83.9%
- Shares Outstanding
- 173.99M
- Float Shares
- 146.07M
of shares held by institutions
746 13F filers
Buy/sell ratio 0.21. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 11.64M | ▲ 44.04K |
| Mirae Asset Global Etfs Holdings Ltd. | 8.94M | ▲ 79.33K |
| Van Eck Associates Corp | 7.91M | ▲ 1.83M |
| Blackrock, Inc. | 7.31M | ▼ 8.60M |
| Vanguard Capital Management LLC | 6.54M | ▲ 708.40K |
| Morgan Stanley | 3.26M | ▲ 581.14K |
| State Street Corp | 2.38M | ▼ 948.08K |
| Geode Capital Management, LLC | 2.36M | ▼ 689.72K |
| Ubs Group AG | 2.10M | ▲ 888.85K |
| Norges Bank | 1.76M | ▲ 1.76M |
| Clear Street Group Inc. | 1.33M | ▲ 830.08K |
| Jane Street Group, LLC | 1.27M | ▲ 736.15K |
Held by 250 ETFs
Biggest fund positions in OKLO by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 13, 26 | Renner Alexandra | other | 1,201 |
| Aug 13, 26 | Renner Alexandra | other | 1,201 |
| Aug 13, 26 | Hanson John | other | 961 |
| Aug 13, 26 | Hanson John | other | 961 |
| Aug 12, 26 | Goodwin William Carroll Murphy | other | 20,685 |
| Aug 12, 26 | Goodwin William Carroll Murphy | other | 20,685 |
| Aug 3, 26 | Bealmear Richard Craig | other | 16,452 |
| Aug 4, 26 | Bealmear Richard Craig | other | 5,644 |
| Aug 3, 26 | Bealmear Richard Craig | other | 16,452 |
| Aug 4, 26 | Bealmear Richard Craig | other | 5,644 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our OKLO coverage
Recent articles, reports, and earnings notes.

Oklo (OKLO): Execution Risk Overshadows Long-Term Upside
Oklo has a strong balance sheet and multiple near-term catalysts, but it remains pre-commercial with no binding power contract and a long road to cash flow. The stock looks more like a Hold than a core utility holding at current levels.

The next AI infrastructure trade is the grid, not another nuclear moonshot
AI data-center demand is exposing an immediate bottleneck in transformers, switchgear, transmission and generation capacity, while nuclear remains a longer-dated option. The cleaner trade is the grid equipment already converting that shortage into orders and earnings, not another speculative reactor story.

Oklo Inc. (OKLO) climbs after earnings miss: deep dive
Oklo Inc. (OKLO) climbed despite an earnings miss, but the real story is in the deeper read: what the incomplete transcript reveals, what’s missing from the CFO remarks and Q&A, and why the stock’s reaction may reflect expectations, not just the headline numbers.
Want a deeper read on OKLO?
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AI analysis · Last refreshed August 15, 2026 · Live quote · Not investment advice