Shares of U.S.-based Oklo Inc. (OKLO) have declined significantly in recent months, reflecting concerns about valuation, execution, and broader market sentiment. The stock has declined by 55% over the last six months and by more than 70% from its high in October 2025. Despite this steep decline, analysts remain moderately bullish. The average price target stands at $93.21, which suggests a potential upside of more than 90% from current levels. Even though several analysts have trimmed their price targets on OKLO stock, the recent decline still offers meaningful upside for investors.
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For context, Oklo develops small nuclear microreactors designed to deliver reliable, low-carbon power for commercial and industrial use.
What’s Behind the Recent Drop in OKLO Stock?
The drop is mainly due to concerns around its early-stage business, high spending, and overall pressure on risky tech stocks. Even with big partnerships, including Meta Platforms (META), investors remain cautious due to the company’s high risk and long path to profitability.
Earlier this month, the company reported a 2025 net loss of $0.72 per share, slightly better than last year’s $0.74 loss. However, it still missed Wall Street estimates of $0.61. Notably, Oklo is still a pre-revenue company, meaning it does not generate any meaningful income yet.
On the plus side, the Department of Energy’s Reactor Pilot Program is helping Oklo move ahead with its Aurora powerhouse, which could make it easier to roll out more projects later under normal licensing. For context, Oklo’s Aurora powerhouse is a small, advanced nuclear plant designed to deliver clean, reliable energy using fast fission technology. That said, nuclear projects take time. Oklo is still years away from real revenue, with Aurora expected to start in late 2027 or 2028.
Analysts Cut Price Targets on OKLO
Last week, UBS’ four-star-rated analyst Jon Windham cut his price target on OKLO from $95 to $60, while keeping a Hold rating. He still sees long-term potential in U.S. nuclear growth, but flagged concerns around high capital needs, possible delays, and cost overruns.
Likewise, Citi analyst Vikram Bagri stayed Neutral but cut his target from $95 to $73.50. He noted that Oklo increased its 2026 cash spending outlook to $80 million–$100 million, mainly due to higher hiring and operating costs. Bagri said the lower target reflects a more cautious view, especially since the company is still years away from actually delivering power.
Meanwhile, Goldman Sachs analyst Brian K. Lee also kept a Hold rating but lowered his target from $91 to $65. He noted that the company’s Q4 results showed higher-than-expected operating expenses, but it still met its 2025 cash usage guidance. Looking ahead, Lee expects a sharp rise in spending, with 2026 capex projected at $350 million to $450 million as Oklo moves forward with approvals and construction. Since the company isn’t generating revenue yet, investors remain concerned that future fundraising could dilute existing shareholders.
Is OKLO a Good Stock to Buy?
Overall, Wall Street has a Moderate Buy consensus rating on OKLO stock, based on nine Buys and five Holds assigned in the last three months. The average share price target for Oklo is $93.21, which implies an upside of 90% from current levels.
