Oklo (NYSE:OKLO) Trading Up 14.9% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price rose 14.9% during trading on Monday . The company traded as high as $90.85 and last traded at $89.4080. Approximately 19,701,104 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 14,885,530 shares. The stock had previously closed at $77.80.

Analyst Ratings Changes

Several research analysts recently commented on the company. The Goldman Sachs Group initiated coverage on Oklo in a research note on Thursday, September 25th. They set a “neutral” rating and a $117.00 target price for the company. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of Oklo in a research report on Wednesday, November 12th. Barclays set a $146.00 price target on Oklo in a research note on Monday, September 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Oklo in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $122.00 price objective on shares of Oklo in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $102.87.

Oklo Trading Up 14.9%

The business’s 50-day simple moving average is $97.38 and its 200 day simple moving average is $91.90. The company has a market capitalization of $13.97 billion, a P/E ratio of -165.57 and a beta of 0.76.

Oklo (NYSE:OKLO) last posted its quarterly earnings results 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 last year, the firm earned ($0.08) EPS. As a group, sell-side analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 840,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $82.32, for a total value of $69,148,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,580,000 shares of the company’s stock, valued at $130,065,600. This trade represents a 34.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 5,864 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $88.42, for a total value of $518,494.88. Following the completion of the transaction, the insider owned 13,620 shares in the company, valued at approximately $1,204,280.40. This represents a 30.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 932,800 shares of company stock valued at $76,755,480 over the last three months. 18.90% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

Several hedge funds have recently added to or reduced their stakes in OKLO. Royal Bank of Canada grew its holdings in Oklo by 162.6% during the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock worth $2,009,000 after acquiring an additional 57,497 shares during the last quarter. Ancora Advisors LLC grew its holdings in Oklo by 26.0% during the first quarter. Ancora Advisors LLC now owns 5,810 shares of the company’s stock worth $126,000 after buying an additional 1,200 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Oklo in the 1st quarter valued at $519,000. Millennium Management LLC lifted its stake in Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after acquiring an additional 570,532 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock worth $339,000 after acquiring an additional 9,772 shares during the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.

About Oklo

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.