Oklo (NYSE:OKLO) Trading 1.2% Higher – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s share price traded up 1.2% on Friday . The stock traded as high as $43.68 and last traded at $42.16. Approximately 6,470,027 shares changed hands during trading, a decline of 43% from the average daily volume of 11,379,524 shares. The stock had previously closed at $41.66.

Analysts Set New Price Targets

Several analysts have recently issued reports on OKLO shares. Wedbush restated an “outperform” rating and issued a $110.00 price objective on shares of Oklo in a research report on Tuesday, May 26th. JPMorgan Chase & Co. initiated coverage on Oklo in a research report on Monday, May 11th. They set a “neutral” rating and a $83.00 price objective for the company. Barclays cut their target price on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Bank of America began coverage on shares of Oklo in a research note on Friday, May 22nd. They set a “buy” rating and a $80.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.03.

Oklo Trading Up 1.2%

The stock’s 50 day moving average price is $47.39 and its 200 day moving average price is $57.49. The company has a market cap of $7.84 billion, a price-to-earnings ratio of -44.85 and a beta of 1.17.

Oklo (NYSE:OKLO) last released its 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 in the previous year, the company earned ($0.18) earnings per share. The business’s revenue was up 11900.0% on a year-over-year basis. On average, equities analysts expect that Oklo Inc. will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the transaction, the chief financial officer directly owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total value of $3,168,000.00. Following the sale, the chief executive officer directly owned 511,533 shares of the company’s stock, valued at approximately $27,008,942.40. This trade represents a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 473,081 shares of company stock valued at $29,243,402. Insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

Several large investors have recently added to or reduced their stakes in the stock. Odyssean LLC acquired a new position in shares of Oklo during the second quarter worth about $555,000. Nykredit A S purchased a new stake in shares of Oklo during the 2nd quarter valued at about $199,000. Wedbush Securities Inc. lifted its position in Oklo by 6.5% during the 2nd quarter. Wedbush Securities Inc. now owns 29,571 shares of the company’s stock worth $1,547,000 after acquiring an additional 1,799 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Oklo in the 2nd quarter worth approximately $2,096,000. Finally, Ancora Advisors LLC purchased a new position in Oklo in the 2nd quarter worth approximately $226,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

About Oklo

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.