Oklo (NYSE:OKLO) Trading 1.7% Higher – Time to Buy?

Shares of Oklo Inc. (NYSE:OKLO) rose 1.7% during trading on Wednesday . The company traded as high as $67.67 and last traded at $66.1760. Approximately 5,970,159 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 11,708,083 shares. The stock had previously closed at $65.06.

Analysts Set New Price Targets

A number of research analysts have issued reports on OKLO shares. Zacks Research downgraded shares of Oklo from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $106.00 price target on shares of Oklo in a research report on Friday, January 9th. Needham & Company LLC reissued a “buy” rating on shares of Oklo in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Finally, William Blair reissued an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Oklo has an average rating of “Moderate Buy” and a consensus price target of $98.93.

Oklo Price Performance

The stock has a 50 day simple moving average of $80.20 and a 200-day simple moving average of $96.30. The firm has a market cap of $10.34 billion, a PE ratio of -122.55 and a beta of 0.76.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 840,000 shares of Oklo stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $82.32, for a total value of $69,148,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,580,000 shares of the company’s stock, valued at approximately $130,065,600. The trade was a 34.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Craig Bealmear sold 69,841 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total transaction of $5,475,534.40. Following the completion of the transaction, the chief financial officer owned 202,072 shares in the company, valued at approximately $15,842,444.80. This represents a 25.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,750,590 shares of company stock valued at $152,068,284. 18.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently added to or reduced their stakes in the company. Plancorp LLC lifted its position in Oklo by 1.2% in the 3rd quarter. Plancorp LLC now owns 6,089 shares of the company’s stock valued at $680,000 after acquiring an additional 73 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Oklo by 3.7% in the third quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock worth $293,000 after purchasing an additional 94 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Oklo by 1.5% during the third quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock valued at $789,000 after purchasing an additional 101 shares in the last quarter. Meriwether Wealth & Planning LLC boosted its position in shares of Oklo by 2.7% during the fourth quarter. Meriwether Wealth & Planning LLC now owns 4,545 shares of the company’s stock valued at $326,000 after buying an additional 120 shares during the last quarter. Finally, Rossby Financial LCC boosted its position 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 buying an additional 150 shares during the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.