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Oklo or NANO Nuclear: Which Microreactor Stock Has the Edge?
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Key Takeaways
OKLO secured key regulatory progress and a potential microreactor deal with the U.S. Air Force.
OKLO ended Q1 2025 with $201M in cash and no notable debt, supporting Aurora powerhouse development.
OKLO shares soared 549.2% year over year, far outperforming NNE's 119.9% stock price gain.
As the global clean energy sector continues to evolve, nuclear energy stocks like Oklo Inc. (OKLO - Free Report) and NANO NuclearEnergy Inc. (NNE - Free Report) have started gaining attention lately. With rising government support and increased investment in small modular and advanced nuclear technologies, both companies are well-positioned to capitalize on the growth trend of the nuclear energy industry.
While Oklo is focused on developing next-generation fission powerhouses and compact fast reactors that can recycle used nuclear fuel, NANO Nuclear is working on microreactors that aim to deliver clean, portable and scalable nuclear power. With the U.S. nuclear capacity boasting the potential to triple by 2050, both OKLO and NNE have strong potential for long-term growth.
This leads to a key question for investors: Which of these two stocks is a better choice? Let’s take a closer look.
Key Takeaways for OKLO
Recent Achievements: In June 2025, Oklo’s subsidiary, Atomic Alchemy, commenced site characterization work at a potential location for a commercial radioisotope production facility in Idaho, at the Idaho National Laboratory .
In the same month, Oklo received a Notice of Intent to Award for deploying its Aurora powerhouse at Alaska’s Eielson Air Force Base, marking a key step in the Department of the Air Force’s microreactor pilot program. If finalized, this long-term agreement would allow OKLO to design, build and operate the plant, providing clean power for critical defense infrastructure.
In June, it also announced that the U.S. Nuclear Regulatory Commission had begun reviewing its Licensed Operator Topical Report, marking progress in OKLO’s regulatory plans towards achieving a license to operate its Aurora powerhouses.
Financial Stability: Oklo ended the first quarter of 2025 with $201 million in cash and cash equivalents, including marketable debt securities. The company did not report any notable debt as of March 2025, indicating a solid financial footing. This strong liquidity position should support the continued development of its Aurora powerhouses along with its operational and growth-related activities in the near future.
Challenges to Note: A major point of concern for investors is that Oklo is still in the pre-revenue stage, with its first Aurora powerhouse not expected to be operational until 2027. This indicates limited income opportunities in the short term. Additionally, the company continues to incur high operating expenses tied to the development of its reactor technology, which could weigh on its near-term financial performance.
Key Takeaways for NNE
Recent Achievements: In June 2025, NANO Nuclear signed a Memorandum of Understanding with the Namibia Industrial Development Agency to explore building a domestic nuclear fuel supply chain in Namibia.
Moreover, in May, the company filed six new utility patent applications with the U.S. Patent and Trademark Office for its ZEUS microreactor. ZEUS is being designed as a solid-core, sealed microreactor that avoids in-core coolant, reducing the risks of coolant-related accidents. These patents show the company’s commitment to innovating compact, safe nuclear technologies.
Financial Stability: NANO Nuclear ended the fiscal second quarter of 2025 with $119 million in cash and cash equivalents, including marketable debt securities. The company did not report any notable debt as of March 2025, indicating a solid financial footing. This strong liquidity position should support the continued development of its microreactors along with its operational and growth-related activities in the near future.
Challenges to Note: NANO Nuclear remains in the pre-revenue stage, as it continues to focus on research and development of its microreactors. This indicates limited income opportunities in the short term. Additionally, like other nuclear startups, it faces long regulatory timelines and high development costs before commercial operations can begin.
How do EPS Estimates Compare for OKLO & NNE?
The Zacks Consensus Estimate for Oklo’s 2025 earnings per share (EPS) is pegged at a loss of 46 cents per share, which implies a solid improvement from the year-ago reported loss of 74 cents per share. The company’s EPS estimates have, however, been trending downward over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NNE’s fiscal 2025 EPS is pegged at a loss of $1.05 per share, which implies a deterioration from the year-ago reported loss of 39 cents per share. The company’s EPS estimates for fiscal 2025 have moved south over the past 60 days, while the estimates for fiscal 2026 have moved north.
Image Source: Zacks Investment Research
Stock Price Performance: OKLO vs. NNE
OKLO (up 549.2%) has outperformed NNE (up 119.9%) over the past year.
Image Source: Zacks Investment Research
NNE’s Valuation More Attractive Than OKLO's
OKLO shares are expensive compared with NNE, with its trailing 12-month Price/Book (P/B TTM) being 28.72X compared with NNE’s P/B TTM of 10.02X.
Image Source: Zacks Investment Research
Conclusion
While both companies operate in promising segments of the nuclear energy space, their pre-revenue status and ongoing operating losses warrant a cautious outlook.
Oklo holds a significantly stronger cash position, offering it greater financial flexibility to support ongoing development and future growth. Its recent regulatory progress and government partnerships further strengthen its outlook. On the other hand, NANO Nuclear, while innovative and expanding globally, remains at a much earlier stage with a smaller capital base.
Metric-wise, OKLO shows stronger stock momentum and an improving EPS trend, while NNE offers a more attractive valuation. So, OKLO may be favored by investors seeking growth and catalysts, while NNE may appeal to value-oriented investors.
Image: Bigstock
Oklo or NANO Nuclear: Which Microreactor Stock Has the Edge?
Key Takeaways
As the global clean energy sector continues to evolve, nuclear energy stocks like Oklo Inc. (OKLO - Free Report) and NANO Nuclear Energy Inc. (NNE - Free Report) have started gaining attention lately. With rising government support and increased investment in small modular and advanced nuclear technologies, both companies are well-positioned to capitalize on the growth trend of the nuclear energy industry.
While Oklo is focused on developing next-generation fission powerhouses and compact fast reactors that can recycle used nuclear fuel, NANO Nuclear is working on microreactors that aim to deliver clean, portable and scalable nuclear power. With the U.S. nuclear capacity boasting the potential to triple by 2050, both OKLO and NNE have strong potential for long-term growth.
This leads to a key question for investors: Which of these two stocks is a better choice? Let’s take a closer look.
Key Takeaways for OKLO
Recent Achievements: In June 2025, Oklo’s subsidiary, Atomic Alchemy, commenced site characterization work at a potential location for a commercial radioisotope production facility in Idaho, at the Idaho National Laboratory .
In the same month, Oklo received a Notice of Intent to Award for deploying its Aurora powerhouse at Alaska’s Eielson Air Force Base, marking a key step in the Department of the Air Force’s microreactor pilot program. If finalized, this long-term agreement would allow OKLO to design, build and operate the plant, providing clean power for critical defense infrastructure.
In June, it also announced that the U.S. Nuclear Regulatory Commission had begun reviewing its Licensed Operator Topical Report, marking progress in OKLO’s regulatory plans towards achieving a license to operate its Aurora powerhouses.
Financial Stability: Oklo ended the first quarter of 2025 with $201 million in cash and cash equivalents, including marketable debt securities. The company did not report any notable debt as of March 2025, indicating a solid financial footing. This strong liquidity position should support the continued development of its Aurora powerhouses along with its operational and growth-related activities in the near future.
Challenges to Note: A major point of concern for investors is that Oklo is still in the pre-revenue stage, with its first Aurora powerhouse not expected to be operational until 2027. This indicates limited income opportunities in the short term. Additionally, the company continues to incur high operating expenses tied to the development of its reactor technology, which could weigh on its near-term financial performance.
Key Takeaways for NNE
Recent Achievements: In June 2025, NANO Nuclear signed a Memorandum of Understanding with the Namibia Industrial Development Agency to explore building a domestic nuclear fuel supply chain in Namibia.
Moreover, in May, the company filed six new utility patent applications with the U.S. Patent and Trademark Office for its ZEUS microreactor. ZEUS is being designed as a solid-core, sealed microreactor that avoids in-core coolant, reducing the risks of coolant-related accidents. These patents show the company’s commitment to innovating compact, safe nuclear technologies.
Financial Stability: NANO Nuclear ended the fiscal second quarter of 2025 with $119 million in cash and cash equivalents, including marketable debt securities. The company did not report any notable debt as of March 2025, indicating a solid financial footing. This strong liquidity position should support the continued development of its microreactors along with its operational and growth-related activities in the near future.
Challenges to Note: NANO Nuclear remains in the pre-revenue stage, as it continues to focus on research and development of its microreactors. This indicates limited income opportunities in the short term. Additionally, like other nuclear startups, it faces long regulatory timelines and high development costs before commercial operations can begin.
How do EPS Estimates Compare for OKLO & NNE?
The Zacks Consensus Estimate for Oklo’s 2025 earnings per share (EPS) is pegged at a loss of 46 cents per share, which implies a solid improvement from the year-ago reported loss of 74 cents per share. The company’s EPS estimates have, however, been trending downward over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NNE’s fiscal 2025 EPS is pegged at a loss of $1.05 per share, which implies a deterioration from the year-ago reported loss of 39 cents per share. The company’s EPS estimates for fiscal 2025 have moved south over the past 60 days, while the estimates for fiscal 2026 have moved north.
Image Source: Zacks Investment Research
Stock Price Performance: OKLO vs. NNE
OKLO (up 549.2%) has outperformed NNE (up 119.9%) over the past year.
Image Source: Zacks Investment Research
NNE’s Valuation More Attractive Than OKLO's
OKLO shares are expensive compared with NNE, with its trailing 12-month Price/Book (P/B TTM) being 28.72X compared with NNE’s P/B TTM of 10.02X.
Image Source: Zacks Investment Research
Conclusion
While both companies operate in promising segments of the nuclear energy space, their pre-revenue status and ongoing operating losses warrant a cautious outlook.
Oklo holds a significantly stronger cash position, offering it greater financial flexibility to support ongoing development and future growth. Its recent regulatory progress and government partnerships further strengthen its outlook. On the other hand, NANO Nuclear, while innovative and expanding globally, remains at a much earlier stage with a smaller capital base.
Metric-wise, OKLO shows stronger stock momentum and an improving EPS trend, while NNE offers a more attractive valuation. So, OKLO may be favored by investors seeking growth and catalysts, while NNE may appeal to value-oriented investors.
Both Oklo and NANO Nuclear currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.