Oklo (NYSE:OKLO) Trading Up 3.7% – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s share price shot up 3.7% during trading on Wednesday . The stock traded as high as $66.18 and last traded at $65.63. 6,125,413 shares changed hands during trading, a decline of 45% from the average session volume of 11,162,223 shares. The stock had previously closed at $63.30.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OKLO. UBS Group reiterated a “neutral” rating on shares of Oklo in a research note on Monday, January 12th. 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. Barclays cut their price objective on Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. William Blair reaffirmed an “outperform” rating on shares of Oklo in a report on Wednesday, November 12th. Finally, Texas Capital raised shares of Oklo to a “strong-buy” rating in a report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Oklo currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.93.

Oklo Price Performance

The business has a 50 day moving average of $78.68 and a 200 day moving average of $95.97. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of -121.54 and a beta of 0.80.

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $75.18, for a total transaction of $10,525,200.00. Following the transaction, the chief executive officer directly owned 739,023 shares of the company’s stock, valued at $55,559,749.14. This trade represents a 15.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Craig Bealmear sold 9,726 shares of the business’s 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 directly owned 196,913 shares of the company’s stock, valued at $15,148,517.09. This trade represents a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,744,726 shares of company stock worth $151,549,790 over the last quarter. 18.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Oklo by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock valued at $835,107,000 after buying an additional 44,036 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after purchasing an additional 2,968,981 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Oklo by 13.9% in the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after purchasing an additional 481,288 shares during the period. State Street Corp raised its holdings in shares of Oklo by 23.6% in the 4th quarter. State Street Corp now owns 3,060,220 shares of the company’s stock valued at $219,601,000 after purchasing an additional 584,184 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Oklo by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock valued at $201,671,000 after purchasing an additional 185,265 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.