Oklo Shares Plunge 76%, Still Valued at $5.4 Billion Without Revenue - TechStock²
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New York, July 13, 2026, 12:10 EDT Oklo Inc. NYSE:OKLO dropped 5.5% to $46.15 in late-morning Monday trading. The stock is still down 76% from its 52-week high of $193.84. Texas Capital Securities kept its Buy rating and $93 price target. Shares remain 52% below the $96.95 average price where Oklo sold 12.4 million shares in Q1, raising $1.18 billion net in an at-the-market deal. The difference is front and center now as the stock drop makes Oklo's balance sheet a bigger factor in its equity story, but hasn't wiped out its execution premium. Oklo reported $2.54 billion in cash and marketable securities and $64.9 million in total liabilities as of March 31. That puts its net liquid assets at 31% of the current market cap. Strip that out, and the market values Oklo's still pre-revenue business at about $5.39 billion. Oklo's cash pile softens the hit from reported losses. The company made $21.3 million in interest and dividends in the first quarter, or 42% of its $51.2 million operating loss. Oklo used $17.9 million in cash for operations and put $32.8 million toward plant and equipment. Its forecast for operating and investing cash outflows in 2026 is $430 million to $550 million, about 17% to 22% of its March liquidity. The debate on Oklo valuation isn't any closer to resolution. InvestingPro, on Monday, said its September 2025 model had projected a fair value of $55.62 when...
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