Oklo (NYSE:OKLO) Shares Gap Up Following Analyst Upgrade

Oklo Inc. (NYSE:OKLO)’s share price gapped up before the market opened on Wednesday after Bank of America upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $89.93, but opened at $96.39. Bank of America now has a $127.00 price target on the stock, up from their previous price target of $111.00. Oklo shares last traded at $93.0530, with a volume of 10,325,284 shares changing hands.

Other analysts have also recently issued reports about the stock. Seaport Res Ptn upgraded shares of Oklo from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. William Blair reaffirmed an “outperform” rating on shares of Oklo in a research note on Wednesday, November 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $106.00 price objective on shares of Oklo in a report on Friday, January 9th. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, B. Riley raised their target price on Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.20.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 26,740 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $111.38, for a total transaction of $2,978,301.20. Following the completion of the transaction, the chief executive officer owned 808,197 shares of the company’s stock, valued at $90,016,981.86. The trade was a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Craig Bealmear sold 5,159 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $76.97, for a total transaction of $397,088.23. Following the sale, the chief financial officer owned 196,913 shares of the company’s stock, valued at $15,156,393.61. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,552,800 shares of company stock valued at $137,543,426. 18.90% of the stock is owned by insiders.

Institutional Trading of Oklo

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in Oklo by 162.6% in the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock worth $2,009,000 after buying an additional 57,497 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Oklo in the first quarter worth $519,000. Millennium Management LLC increased its position in Oklo by 4,974.1% during the first quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after acquiring an additional 570,532 shares during the period. NewEdge Advisors LLC increased its position in Oklo by 165.6% during the first quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock worth $339,000 after acquiring an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Oklo by 90.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock valued at $2,439,000 after purchasing an additional 53,703 shares during the last quarter. Institutional investors own 85.03% of the company’s stock.

Oklo Stock Performance

The company’s 50 day moving average is $90.86 and its 200 day moving average is $95.30. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of -174.44 and a beta of 0.76.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period in the prior year, the company posted ($0.08) EPS. On average, equities research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

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.