Oklo (NYSE:OKLO) Shares Up 4.2% – Still a Buy?

Oklo Inc. (NYSE:OKLO) shares were up 4.2% during trading on Monday . The stock traded as high as $57.21 and last traded at $56.2560. Approximately 9,192,267 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 10,723,322 shares. The stock had previously closed at $53.97.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on Oklo from $91.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Bank of America raised Oklo from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $111.00 to $127.00 in a research note on Wednesday, January 21st. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Oklo in a research note on Wednesday, March 18th. Canaccord Genuity Group cut their price target on Oklo from $175.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $86.63.

Oklo Stock Up 4.2%

The business’s fifty day moving average is $72.38 and its two-hundred day moving average is $94.90. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of -78.13 and a beta of 0.81.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same period in the previous year, the business earned ($0.74) earnings per share. Research analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

In other news, CFO Richard Craig Bealmear sold 72,090 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $60.00, for a total transaction of $4,325,400.00. Following the transaction, the chief financial officer owned 386,008 shares of the company’s stock, valued at $23,160,480. This represents a 15.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 231,657 shares of Oklo stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $99.25, for a total value of $22,991,957.25. Following the completion of the sale, the chief executive officer owned 827,019 shares of the company’s stock, valued at approximately $82,081,635.75. The trade was a 21.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,222,424 shares of company stock worth $100,739,512 in the last ninety days. 18.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently modified their holdings of OKLO. Caprock Group LLC bought a new stake in Oklo in the third quarter valued at about $14,829,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Oklo by 48.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,860 shares of the company’s stock worth $18,403,000 after buying an additional 54,080 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Oklo by 298.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 23,396 shares of the company’s stock worth $2,612,000 after buying an additional 17,526 shares during the period. Wealthedge Investment Advisors LLC bought a new stake in shares of Oklo in the 2nd quarter valued at about $738,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Oklo in the 3rd quarter valued at about $2,177,000. 85.03% of the stock is owned by institutional investors.

About Oklo

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.