Oklo (NYSE:OKLO) Trading Up 14.5% – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s stock price was up 14.5% during trading on Friday . The stock traded as high as $72.18 and last traded at $71.16. Approximately 12,627,453 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 13,946,089 shares. The stock had previously closed at $62.14.

Analyst Ratings Changes

Several brokerages have commented on OKLO. Needham & Company LLC restated a “buy” rating on shares of Oklo in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a research note on Thursday, January 22nd. Zacks Research lowered shares of Oklo from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $106.00 price objective on shares of Oklo in a research note on Friday, January 9th. Finally, Texas Capital upgraded shares of Oklo to a “strong-buy” rating in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Oklo currently has an average rating of “Moderate Buy” and an average price target of $103.20.

Oklo Trading Up 14.5%

The firm has a market capitalization of $11.12 billion, a P/E ratio of -131.78 and a beta of 0.76. The company has a 50-day moving average of $87.73 and a 200-day moving average of $96.60.

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

Insider Buying and Selling at Oklo

In related news, CFO Richard Craig Bealmear sold 9,726 shares of Oklo stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $76.93, for a total transaction of $748,221.18. Following the completion of the transaction, the chief financial officer owned 196,913 shares of the company’s stock, valued at $15,148,517.09. This trade represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $74.45, for a total value of $4,467,000.00. Following the sale, the chief executive officer owned 748,197 shares of the company’s stock, valued at approximately $55,703,266.65. The trade was a 7.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,762,526 shares of company stock valued at $153,283,847. 18.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Oklo by 71.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after acquiring an additional 2,968,981 shares in the last quarter. Vanguard Group Inc. grew its holdings in Oklo by 33.4% in the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after purchasing an additional 2,901,909 shares during the period. State Street Corp increased its stake in Oklo by 454.5% in the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after purchasing an additional 1,488,482 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after purchasing an additional 1,316,867 shares in the last quarter. 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.