Oklo (NYSE:OKLO) Shares Up 1.4% – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares shot up 1.4% during mid-day trading on Monday . The stock traded as high as $60.35 and last traded at $58.9060. 8,861,035 shares changed hands during trading, a decline of 28% from the average session volume of 12,290,597 shares. The stock had previously closed at $58.09.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKLO. Wedbush restated an “outperform” rating and set a $110.00 price objective on shares of Oklo in a research note on Tuesday, May 26th. JPMorgan Chase & Co. began coverage on Oklo in a research note on Monday, May 11th. They set a “neutral” rating and a $83.00 price objective on the stock. Tigress Financial began coverage on Oklo in a research note on Monday, April 27th. They set a “buy” rating and a $130.00 price objective on the stock. Barclays reduced their price objective on Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, February 23rd. Finally, Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Oklo presently has a consensus rating of “Moderate Buy” and an average target price of $83.06.

Oklo Stock Up 1.4%

The company has a market capitalization of $10.25 billion, a P/E ratio of -70.13 and a beta of 1.10. The business has a 50 day simple moving average of $62.90 and a 200-day simple moving average of $73.24.

Oklo (NYSE:OKLO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the prior year, the firm earned ($0.07) earnings per share. Equities analysts forecast that Oklo Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.29, for a total value of $9,560,600.00. Following the sale, the chief executive officer directly owned 538,039 shares in the company, valued at approximately $36,742,683.31. This trade represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.42, for a total value of $5,000,202.02. Following the transaction, the chief financial officer directly owned 397,642 shares in the company, valued at $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 889,849 shares of company stock worth $55,614,037. 18.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Gables Capital Management Inc. acquired a new position in shares of Oklo during the third quarter valued at $28,000. Nemes Rush Group LLC acquired a new position in shares of Oklo during the third quarter valued at $28,000. CI Investments Inc. increased its holdings in shares of Oklo by 153.0% during the third quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after purchasing an additional 179 shares during the period. Comprehensive Financial Planning Inc. PA increased its holdings in shares of Oklo by 950.0% during the third quarter. Comprehensive Financial Planning Inc. PA now owns 315 shares of the company’s stock valued at $35,000 after purchasing an additional 285 shares during the period. Finally, Rossby Financial LCC increased its holdings in shares of Oklo by 75.0% during the third quarter. Rossby Financial LCC now owns 350 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the period. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo Company Profile

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.