Oklo (NYSE:OKLO) Trading Up 5.7% – Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO) traded up 5.7% during mid-day trading on Monday . The stock traded as high as $53.58 and last traded at $52.85. 9,036,667 shares were traded during trading, a decline of 25% from the average daily volume of 12,114,277 shares. The stock had previously closed at $50.00.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on OKLO shares. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Tigress Financial began coverage on Oklo in a report on Monday, April 27th. They issued a “buy” rating and a $130.00 price objective for the company. Canaccord Genuity Group lowered their price objective on Oklo from $175.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. HSBC assumed coverage on shares of Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 target price for the company. Finally, Royal Bank Of Canada set a $80.00 price target on shares of Oklo in a research note on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.18.

Oklo Stock Performance

The company has a 50-day simple moving average of $64.76 and a two-hundred day simple moving average of $69.29. The firm has a market capitalization of $9.20 billion, a P/E ratio of -62.92 and a beta of 1.10.

Oklo (NYSE:OKLO) last issued its quarterly 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 quarter in the previous year, the firm earned ($0.07) EPS. As a group, research analysts forecast that Oklo Inc. will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Carroll Murphy Goodwin sold 10,548 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the transaction, the insider owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This represents a 22.58% 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 sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total value of $7,054,600.00. Following the sale, the chief executive officer owned 656,483 shares of the company’s stock, valued at approximately $33,080,178.37. This trade represents a 17.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 699,971 shares of company stock worth $44,221,357 over the last three months. 18.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in Oklo by 162.6% during the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock worth $2,009,000 after buying an additional 57,497 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Oklo in the 1st quarter worth approximately $519,000. Millennium Management LLC grew its position in Oklo by 4,974.1% during the first quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after buying an additional 570,532 shares during the period. NewEdge Advisors LLC raised its holdings in Oklo by 165.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock worth $339,000 after purchasing an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Oklo by 90.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock valued at $2,439,000 after buying an additional 53,703 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.