Oklo (NYSE:OKLO) Shares Up 6.4% – Should You Buy?

Oklo Inc. (NYSE:OKLO)’s stock price shot up 6.4% during trading on Wednesday . The stock traded as high as $58.60 and last traded at $59.4330. 1,803,623 shares were traded during trading, a decline of 85% from the average session volume of 11,646,066 shares. The stock had previously closed at $55.88.

Analyst Ratings Changes

Several brokerages have commented on OKLO. The Goldman Sachs Group cut their price target on shares of Oklo from $91.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Barclays cut their price target on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, February 23rd. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. UBS Group cut their price target on shares of Oklo from $95.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Finally, Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $111.00 to $127.00 in a research report on Wednesday, January 21st. Two 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.33.

Oklo Stock Performance

The company has a market cap of $10.60 billion, a price-to-earnings ratio of -72.31 and a beta of 1.16. The firm has a fifty day moving average price of $60.80 and a 200 day moving average price of $77.54.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period last year, the company posted ($0.07) earnings per share. On average, analysts expect that Oklo Inc. will post -0.77 EPS for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total transaction of $7,054,600.00. Following the completion of the transaction, the chief executive officer owned 656,483 shares in the company, valued at approximately $33,080,178.37. This trade represents a 17.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard Craig Bealmear sold 72,090 shares of Oklo stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $60.00, for a total value 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. The trade was a 15.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 809,040 shares of company stock valued at $49,162,094 in the last quarter. 18.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently modified their holdings of the stock. NBC Securities Inc. increased its holdings in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the last quarter. Costello Asset Management INC increased its holdings in shares of Oklo by 66.7% in the first quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Oklo by 356.3% in the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after purchasing an additional 285 shares during the last quarter. Gables Capital Management Inc. acquired a new position in shares of Oklo in the third quarter valued at $28,000. Finally, Nemes Rush Group LLC acquired a new position in shares of Oklo in the third quarter valued at $28,000. 85.03% of the stock is currently 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.