Oklo (NYSE:OKLO) Shares Gap Up on Strong Earnings

Shares of Oklo Inc. (NYSE:OKLO) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $19.20, but opened at $21.22. Oklo shares last traded at $22.3390, with a volume of 3,921,148 shares.

The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The firm had revenue of $1.86 million during the quarter, compared to analysts’ expectations of $1.03 million. During the same quarter in the prior year, the firm posted ($0.20) earnings per share.

More Oklo News

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: Oklo announced a strategic agreement with U.S. Forged Rings to access planned domestic manufacturing capacity for large reactor components. The arrangement is intended to help address potential supply bottlenecks as the company deploys its Aurora powerhouses. Manufacturing agreement
• Positive Sentiment: Several reports characterized Q3 adjusted loss per share as slightly better than analysts expected, helping support the positive reaction to earnings. MarketBeat also reported revenue of $1.86 million versus a $1.03 million estimate. Q3 earnings coverage
• Neutral Sentiment: Coverage was not consistent on the quarter: Zacks reported a $0.28-per-share loss versus a $0.29 consensus, but said revenue missed estimates. The conflicting revenue accounts make the quarter’s top-line performance less clear. Zacks Q3 results report
• Negative Sentiment: The reported loss was larger than a year earlier, while Oklo’s revenue remains small. That leaves the company dependent on successfully developing and commercializing its future projects. Q3 results and business update

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oklo in a report on Wednesday. Truist Financial lowered their target price on Oklo from $51.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, October 22nd. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Oklo in a report on Monday, August 10th. TD Cowen began coverage on shares of Oklo in a research report on Monday, October 26th. They issued a “hold” rating and a $26.00 price target on the stock. Finally, Citigroup decreased their price target on shares of Oklo from $57.50 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Oklo currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.72.

Insider Buying and Selling at Oklo

In other Oklo news, CFO Richard Bealmear sold 16,727 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $25.55, for a total transaction of $427,374.85. Following the sale, the chief financial officer directly owned 467,261 shares in the company, valued at $11,938,518.55. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob DeWitte sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $24.64, for a total value of $985,600.00. Following the completion of the sale, the chief executive officer directly owned 351,533 shares of the company’s stock, valued at $8,661,773.12. The trade was a 10.22% 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. Over the last 90 days, insiders sold 350,203 shares of company stock valued at $12,424,945. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

A number of institutional investors have recently bought and sold shares of OKLO. Nikulski Financial Inc. boosted its stake in Oklo by 45.5% during the third quarter. Nikulski Financial Inc. now owns 16,403 shares of the company’s stock worth $607,000 after buying an additional 5,133 shares during the period. Fifth Third Bancorp raised its stake in shares of Oklo by 304.1% in the third quarter. Fifth Third Bancorp now owns 16,698 shares of the company’s stock valued at $618,000 after acquiring an additional 12,566 shares during the period. Jacobi Capital Management LLC bought a new stake in shares of Oklo in the 3rd quarter worth about $27,000. United Capital Management of KS Inc. purchased a new position in shares of Oklo during the 3rd quarter worth about $9,406,000. Finally, AlphaCore Capital LLC purchased a new position in shares of Oklo during the 3rd quarter worth about $435,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Trading Up 19.5%

The stock has a market capitalization of $4.27 billion, a PE ratio of -24.41 and a beta of 1.31. The business’s 50 day moving average is $33.94 and its 200 day moving average is $52.69.

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.