What Is Behind The Move In Oklo Stock?
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Oklo (OKLO) stock rose 22.7% on Friday, November 6, 2026, compared with a 0.3% gain for the S&P 500. The advance occurred on the same day the company published its third-quarter results and announced a manufacturing deal with U.S. Forged Rings. Three of Oklo’s five peers also climbed more than 15% during the session. So what did Oklo tell investors that day?
What Did Oklo Report On November 6?
Oklo published results for the quarter ended September 30, 2026, and filed its 10-Q quarterly report the same day. Zacks put the quarterly loss at $0.28 per share, against its consensus estimate of a loss of $0.29. Oklo is still spending to build its first Aurora powerhouses. Management said on the call that its net loss for the first nine months of 2026 was $123.3 million.
Oklo is paying for that work from a large cash balance. On September 30, the company held $3.1 billion of cash, cash equivalents and marketable securities. That balance reflects $2.3 billion raised through its at-the-market share offerings during the first three quarters of the year.
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Also on November 6, Oklo announced an agreement with U.S. Forged Rings for manufacturing capacity equal to 27 Aurora modules across 2030 through 2035. The contract covers large components such as vessels and lids. The company said the deal aims to help it address a potential manufacturing bottleneck for future deployments.
Management also updated investors on its sites. PJM withdrew one of Oklo’s applications for a potential site in Virginia, and FERC dismissed Oklo’s complaint challenging that withdrawal. Management said that decision does not affect its Ohio project, a planned campus of up to 1.2 gigawatts under its agreement with Meta.
Did Oklo Rise Alone That Day?
No. All five companies on Oklo’s peer list rose in the same session. That group included Centrus Energy, up 17.5%, and NuScale Power, up 16.2%. Oklo’s gain was larger than any of theirs.
The utilities sector, where Oklo is classed, moved in the opposite direction. The sector fund XLU fell 0.4%. So Oklo moved with its peers, not with utilities as a whole.
Oklo’s Big Gain Came After A Long Fall
The advance was Oklo’s largest one-day move in a year. No session in the prior 365 days produced a swing this large in either direction. The gain followed an extended decline. Shares had dropped 13.2% on November 5, leaving the stock at its lowest close of the past year.
Over twelve months, Oklo stock is down 80.6%, compared with a 9.8% gain for the S&P 500. Much of that fall came in the past six months, when the stock lost 67.5%. Its highest close in the past twelve months came on November 7, 2025, at $112.65.
So far in 2026, Oklo has used $110.9 million of cash in its operations, and management expects $120 million to $150 million for the full year. The total so far averages about $37 million a quarter. To stay within that range, the fourth quarter would use between $9.1 million and $39.1 million, so the low end would mean a sharp slowdown. That full-year figure is the measure to watch when Oklo reports its fourth-quarter 2026 results.
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