Oklo (NYSE:OKLO) Shares Up 3.3% – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s stock price traded up 3.3% during trading on Wednesday. The stock traded as high as $26.85 and last traded at $25.9220. 9,867,977 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 11,150,486 shares. The stock had previously closed at $25.09.

Recent Oklo Headlines

Investors following OKLO have been watching these headlines:

• Positive Sentiment: Oklo signed multi-year HALEU fuel supply contracts with Centrus Energy for its planned Ohio deployment. The agreements include prepayments intended to help support new U.S. uranium-enrichment capacity, addressing an important fuel-supply need for the project. Article: Oklo, Centrus Secure Fuel Supply for Aurora Powerhouse Deployment in Ohio
• Negative Sentiment: Truist cut its price target to $28 from $31 and maintained a Hold rating. Although the new target is above the referenced share price, the reduction signals more cautious expectations. Source: MarketBeat analyst recommendations
• Negative Sentiment: A recent analysis highlighted a potential $6.3 billion funding gap, underscoring the scale of capital Oklo may need to finance its plans. That concern could temper enthusiasm about operational milestones, even as the company’s quarterly results beat estimates. Article: Oklo Faces a $6.3 Billion Funding Gap

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OKLO. Citigroup reduced their price target on shares of Oklo from $57.50 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 21st. Barclays decreased their price target on shares of Oklo from $76.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. UBS Group lowered their price objective on shares of Oklo from $55.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, September 25th. Truist Financial dropped their price objective on Oklo from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday. Finally, TD Cowen began coverage on Oklo in a report on Monday, October 26th. They set a “hold” rating and a $26.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.67.

Oklo Stock Performance

The company has a 50-day moving average of $32.43 and a 200-day moving average of $51.11. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of -24.86 and a beta of 1.31.

Oklo (NYSE:OKLO) last posted its earnings results on Friday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The business had revenue of $1.86 million for the quarter, compared to the consensus estimate of $1.03 million. During the same period in the previous year, the company posted ($0.20) earnings per share. As a group, analysts anticipate that Oklo Inc. will post -0.99 EPS for the current fiscal year.

Insider Transactions at Oklo

In other Oklo news, General Counsel Vivek Narayanadas sold 3,264 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $129,809.28. Following the completion of the transaction, the general counsel owned 7,822 shares in the company, valued at approximately $311,080.94. This represents a 29.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Bealmear sold 16,727 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $25.55, for a total value of $427,374.85. Following the transaction, the chief financial officer owned 467,261 shares of the company’s stock, valued at approximately $11,938,518.55. This trade represents a 3.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 350,203 shares of company stock worth $12,424,945. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OKLO. Bank of America Corp DE raised its position in Oklo by 55.3% in the 1st quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock valued at $30,760,000 after buying an additional 220,976 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Oklo by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 516,886 shares of the company’s stock worth $25,632,000 after acquiring an additional 5,945 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Oklo by 48.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 371,761 shares of the company’s stock worth $13,763,000 after acquiring an additional 121,438 shares during the last quarter. Swiss National Bank boosted its position in Oklo by 7.1% during the 1st quarter. Swiss National Bank now owns 324,900 shares of the company’s stock worth $16,112,000 after acquiring an additional 21,400 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Oklo during the 3rd quarter worth approximately $11,483,000. 85.03% of the stock is owned by institutional investors and hedge funds.

About Oklo

Oklo Inc. develops advanced nuclear fission power plants designed to provide reliable, carbon-free electricity. Its Aurora powerhouse concept uses fast-reactor technology and is designed to operate with metallic fuel, including fuel derived from recycled nuclear material. Oklo is developing its technology and has not yet established a commercial operating fleet. The company plans to supply electricity through long-term power agreements rather than relying solely on equipment sales. Its prospective customers include data centers, industrial facilities, and other users seeking dependable power, with its development efforts focused primarily on the United States.