Oklo (NYSE:OKLO) Trading Up 1.1% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares rose 1.1% during trading on Tuesday . The stock traded as high as $47.42 and last traded at $46.3070. Approximately 6,488,283 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 11,833,997 shares. The stock had previously closed at $45.81.

Analyst Ratings Changes

Several research analysts have weighed in on OKLO shares. Royal Bank Of Canada set a $80.00 price objective on shares of Oklo in a research report on Friday, May 22nd. Craig Hallum reiterated a “hold” rating on shares of Oklo in a report on Wednesday, March 18th. Canaccord Genuity Group lowered their target price on shares of Oklo from $175.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Wedbush reissued an “outperform” rating and issued a $110.00 price objective on shares of Oklo in a research note on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Oklo Price Performance

The company has a 50 day moving average price of $60.56 and a two-hundred day moving average price of $66.41. The stock has a market cap of $8.06 billion, a PE ratio of -55.13 and a beta of 1.14.

Oklo (NYSE:OKLO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the prior year, the firm earned ($0.07) earnings per share. As a group, equities analysts predict that Oklo Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total value of $3,168,000.00. Following the completion of the transaction, the chief executive officer directly owned 511,533 shares in the company, valued at approximately $27,008,942.40. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard Craig Bealmear sold 73,081 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the transaction, the chief financial officer directly owned 397,642 shares in the company, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 683,629 shares of company stock worth $43,902,208. 18.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OKLO. Handelsbanken Fonder AB boosted its stake in Oklo by 43.8% in the second quarter. Handelsbanken Fonder AB now owns 52,900 shares of the company’s stock valued at $2,768,000 after acquiring an additional 16,100 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Oklo by 12.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 36,609 shares of the company’s stock valued at $1,916,000 after buying an additional 4,187 shares in the last quarter. Gradient Investments LLC lifted its stake in shares of Oklo by 38.6% in the second quarter. Gradient Investments LLC now owns 34,335 shares of the company’s stock worth $1,797,000 after acquiring an additional 9,570 shares in the last quarter. Evanson Financial LLC acquired a new position in shares of Oklo in the 2nd quarter worth approximately $232,000. Finally, Western Wealth Management LLC bought a new stake in Oklo in the first quarter valued at $130,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.