Oklo rises 22.7% after quarterly results and funding disclosure

What happened

Oklo (OKLO) rose 22.7% on November 6, 2026, after it reported third-quarter 2026 results and disclosed $3.13 billion in cash and investments tied to recent equity financings. The company reported earnings per share of $-0.28 versus $-0.27 expected, 3.9% below estimates. It also said $2.3 billion of the cash and investments came from equity financings, according to Business Wire and Seeking Alpha. The disclosures coincided with an intraday jump of roughly 19–22% amid a broader rally in nuclear stocks. The stock closed at $23.55, giving the company a market value of $4.70 billion.

How big was the move

The stock rose 22.7% on the session, a move that was 4.2 times a typical daily move for this stock. Trading volume was 2.6 times its 20-day average, indicating heavy participation. The stock opened 10.5% above the previous close and outperformed its sector by 22.5 percentage points: the Utilities sector median rose 0.1% while the S&P 500 rose 0.3% on the day. Over the last five sessions the stock fell 6.7%, while the S&P 500 over five sessions fell 2.7%.

The technical picture

The stock remained well below its key moving averages: 11.3% below its 20-day moving average, 29.8% below its 50-day moving average and 54.8% below its 200-day moving average. The 50-day average is below the 200-day average, a sign of a weak longer-term trend. The stock was 80.5% below the 52-week high and had fallen 31.9% over one month, 47.1% over three months and 80.6% over one year. Its Relative Strength Index (14 days) was 37, in a neutral range between 30 and 70. Volatility was 86% annualized over 60 days, lower than 83% of its own readings over five years, and the stock has a beta of 3.12, indicating it tends to move more than the market.

Fundamentals and valuation

Oklo remained pre-revenue for the four quarters through September 30, 2026, reporting revenue of $3.1 million and diluted earnings per share of $-0.97. The company reported gross margin of 35.8% and an operating margin of 8596.0% for the period. Free-cash-flow margin was 14724.6% and return on invested capital was 6.6%. The balance sheet showed net cash of $1.55 billion. Share count over one year increased by 25.4%, a change that will weigh on per-share metrics even as the company builds cash. On valuation metrics, the free-cash-flow yield was 9.6%.

Those figures underline a contrast: Oklo has built a sizable cash position for a pre-revenue firm, yet its operating history and share dilution make traditional valuation comparisons difficult. PromtFinance scores ranked Oklo very weak on Value (3), Quality (4), Momentum (3) and Stability (1), with Revisions at 48 (Neutral). Those scores reflect a company that is pre-revenue, has seen steep price declines over the past year and has material share dilution despite a large cash balance.

Earnings and analyst expectations

Oklo reported on November 6, 2026, with earnings per share of $-0.28 against $-0.27 expected, 3.9% below estimates. It has zero consecutive quarters beating estimates and an average surprise over the last four reports of 31.1% below estimates. Typical two-day reactions after recent reports showed the stock rose 5.8%.

Fifteen analysts cover the name, with a consensus rating of Buy and 73% of ratings at Buy or Strong Buy. The consensus price target was $63.33, 168.9% above the closing price. The most market-moving detail for investors was the $3.13 billion in cash and investments disclosed on November 6, 2026, much of it from $2.3 billion in equity financings. That cash, together with reported net cash of $1.55 billion, gives Oklo a sizable balance sheet for a pre-revenue firm but also reflects substantial recent dilution, as reflected by the 25.4% rise in share count over one year.

What to watch

• November 10, 2026: next scheduled report.
• Net cash of $1.55 billion and $3.13 billion in cash and investments disclosed on November 6, 2026.
• Share count increased by 25.4% over one year.
• Consensus price target $63.33, 168.9% above the closing price.
• In the past five years the stock had 8 sessions with a gain of at least 22.7%; twenty trading days later the median result was a gain of 22.5% and 5 of 8 were higher.