Oklo (NYSE:OKLO) Stock Price Up 5.3% – Time to Buy?

Oklo Inc. (NYSE:OKLO) shares shot up 5.3% during mid-day trading on Tuesday . The stock traded as high as $44.24 and last traded at $43.4230. Approximately 8,568,910 shares traded hands during trading, a decline of 26% from the average session volume of 11,548,646 shares. The stock had previously closed at $41.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $122.00 price target on shares of Oklo in a report on Wednesday, May 13th. Royal Bank Of Canada set a $80.00 price objective on shares of Oklo in a research report on Friday, May 22nd. JPMorgan Chase & Co. assumed coverage on shares of Oklo in a research note on Monday, May 11th. They set a “neutral” rating and a $83.00 price objective for the company. UBS Group dropped their target price on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Finally, Guggenheim assumed coverage on Oklo in a research note on Thursday, June 25th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Oklo Stock Up 5.3%

The company’s fifty day simple moving average is $52.77 and its 200 day simple moving average is $61.75. The firm has a market capitalization of $7.56 billion, a PE ratio of -51.69 and a beta of 1.17.

Oklo (NYSE:OKLO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same period in the prior year, the business posted ($0.07) earnings per share. Equities research analysts forecast that Oklo Inc. will post -0.74 EPS for the current year.

Insider Activity

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the sale, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total value of $3,168,000.00. Following the completion of the sale, the chief executive officer owned 511,533 shares in the company, valued at $27,008,942.40. The trade was a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 483,629 shares of company stock worth $29,855,608. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently modified their holdings of OKLO. NBC Securities Inc. increased its stake in Oklo by 75.0% during the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Costello Asset Management INC raised its holdings in Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Gilpin Wealth Management LLC purchased a new position in Oklo in the 4th quarter worth approximately $29,000. SHP Wealth Management bought a new position in Oklo in the 4th quarter valued at approximately $32,000. Finally, Ascentis Independent Advisors purchased a new stake in Oklo during the 1st quarter valued at $33,000. 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.