Oklo (NYSE:OKLO) Trading 4% Higher – Time to Buy?

Oklo Inc. (NYSE:OKLO) shares traded up 4% on Thursday . The stock traded as high as $69.95 and last traded at $68.95. 7,951,791 shares were traded during trading, a decline of 32% from the average session volume of 11,612,039 shares. The stock had previously closed at $66.32.

Analyst Upgrades and Downgrades

Several analysts have commented on OKLO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price objective on shares of Oklo in a research note on Wednesday, November 12th. Barclays cut their price target on Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday. William Blair reiterated an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $111.00 to $127.00 in a research note on Wednesday, January 21st. Finally, B. Riley Financial raised their target price on shares of Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and an average price target of $98.93.

Oklo Price Performance

The company has a 50-day simple moving average of $80.01 and a 200-day simple moving average of $96.09. The stock has a market cap of $10.77 billion, a PE ratio of -127.69 and a beta of 0.76.

Insider Transactions at Oklo

In related news, CFO Richard Craig Bealmear sold 69,841 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $78.40, for a total value of $5,475,534.40. Following the completion of the sale, the chief financial officer owned 202,072 shares in the company, valued at $15,842,444.80. This trade represents a 25.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 840,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the transaction, the chief executive officer owned 1,580,000 shares in the company, valued at $130,065,600. The trade was a 34.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,750,590 shares of company stock valued at $152,068,284 in the last quarter. Insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Oklo by 71.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after purchasing an additional 2,968,981 shares during the last quarter. Vanguard Group Inc. increased its holdings in Oklo by 33.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after acquiring an additional 2,901,909 shares in the last quarter. State Street Corp raised its position in Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after acquiring an additional 1,752,946 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Oklo by 195.9% in 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 in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Oklo by 61.0% in the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after purchasing an additional 1,316,867 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other 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.