Oklo (NYSE:OKLO) Trading 11.3% Higher – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s share price rose 11.3% during trading on Thursday . The company traded as high as $40.65 and last traded at $39.6440. Approximately 17,116,845 shares changed hands during trading, an increase of 51% from the average session volume of 11,326,558 shares. The stock had previously closed at $35.62.

Wall Street Analyst Weigh In

OKLO has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. Royal Bank Of Canada set a $80.00 target price on shares of Oklo in a research note on Friday, May 22nd. Guggenheim started coverage on Oklo in a research report on Thursday, June 25th. They set a “neutral” rating on the stock. Truist Financial reduced their price objective on Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. Finally, Barclays lowered their target price on Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.26.

Oklo Price Performance

The stock has a market cap of $7.37 billion, a price-to-earnings ratio of -42.17 and a beta of 1.18. The business’s 50 day moving average is $42.18 and its 200 day moving average is $53.88.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. Oklo’s revenue was up 11900.0% compared to the same quarter last year. During the same period last year, the business earned ($0.18) earnings per share. As a group, analysts forecast that Oklo Inc. will post -0.96 earnings per share for the current year.

Insider Activity

In related news, CFO Richard Bealmear sold 16,430 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $38.76, for a total value of $636,826.80. Following the completion of the transaction, the chief financial officer directly owned 455,976 shares of the company’s stock, valued at $17,673,629.76. This represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Vivek Narayanadas sold 3,264 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $129,809.28. Following the completion of the transaction, the general counsel owned 7,822 shares in the company, valued at $311,080.94. This represents a 29.44% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 362,030 shares of company stock valued at $16,851,123 over the last 90 days. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Oklo during the 4th quarter worth approximately $73,786,000. Van ECK Associates Corp boosted its stake in shares of Oklo by 13.9% in the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after buying an additional 481,288 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Oklo in the second quarter valued at approximately $24,532,000. Clear Street Group Inc. grew its holdings in Oklo by 110.5% during the fourth quarter. Clear Street Group Inc. now owns 842,172 shares of the company’s stock worth $60,434,000 after acquiring an additional 442,172 shares during the period. Finally, Bank of America Corp DE raised its position in Oklo by 55.3% in the first quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock worth $30,760,000 after acquiring an additional 220,976 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company focused on developing and commercializing small-scale fission power plants. The company’s flagship product, the Aurora powerhouse, is designed to provide reliable, long-term electricity and heat using advanced nuclear reactor technology. Oklo is targeting applications such as industrial operations, data centers, defense facilities and other customers that require dependable, low-carbon energy.

Oklo is also developing fuel-recycling capabilities intended to use certain forms of nuclear fuel more efficiently and reduce the volume of nuclear waste requiring disposal.