Oklo (NYSE:OKLO) Trading Up 3.9% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price shot up 3.9% during mid-day trading on Wednesday . The stock traded as high as $43.02 and last traded at $42.9630. 7,629,097 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 11,447,869 shares. The stock had previously closed at $41.36.

Wall Street Analyst Weigh In

OKLO has been the topic of a number of recent analyst reports. Barclays cut their target price on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Guggenheim initiated coverage on Oklo in a research note on Thursday, June 25th. They set a “neutral” rating for the company. Wedbush reissued an “outperform” rating and issued a $110.00 price objective on shares of Oklo in a research report on Tuesday, May 26th. HSBC started coverage on shares of Oklo in a report on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.03.

Oklo Price Performance

The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of -44.85 and a beta of 1.17. The business’s 50-day moving average price is $47.70 and its two-hundred day moving average price is $57.60.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. During the same quarter last year, the company earned ($0.18) EPS. The company’s quarterly revenue was up 11900.0% compared to the same quarter last year. As a group, research analysts predict that Oklo Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling at Oklo

In other Oklo news, 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 completion of the sale, the chief financial officer directly owned 397,642 shares in the company, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the transaction, the chief executive officer owned 511,533 shares of the company’s stock, valued at $27,008,942.40. This represents a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 473,081 shares of company stock valued at $29,243,402 in the last quarter. 12.70% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

Hedge funds have recently made changes to their positions in the company. Sei Investments Co. raised its stake in Oklo by 344.6% during the first quarter. Sei Investments Co. now owns 50,096 shares of the company’s stock valued at $2,484,000 after buying an additional 38,829 shares during the last quarter. DNB Asset Management AS grew its stake in shares of Oklo by 151.7% in the fourth quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock worth $2,054,000 after acquiring an additional 17,253 shares during the period. M&T Bank Corp boosted its holdings in shares of Oklo by 740.6% in the fourth quarter. M&T Bank Corp now owns 22,638 shares of the company’s stock worth $1,625,000 after buying an additional 19,945 shares during the last quarter. Vanguard Group Inc. increased its holdings in Oklo by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock worth $835,107,000 after acquiring an additional 44,036 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of Oklo in the fourth quarter worth approximately $2,992,000. 85.03% of the stock is currently owned by 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.