Oklo (NYSE:OKLO) Shares Up 1.4% – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares shot up 1.4% during trading on Monday . The company traded as high as $60.35 and last traded at $58.9060. 8,861,035 shares changed hands during trading, a decline of 28% from the average session volume of 12,290,597 shares. The stock had previously closed at $58.09.

Analysts Set New Price Targets

A number of brokerages have recently commented on OKLO. Tigress Financial initiated coverage on Oklo in a report on Monday, April 27th. They set a “buy” rating and a $130.00 price target on the stock. Needham & Company LLC lowered their target price on Oklo from $135.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Craig Hallum reaffirmed a “hold” rating on shares of Oklo in a report on Wednesday, March 18th. Canaccord Genuity Group lowered their target price on Oklo from $175.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 target price on shares of Oklo in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and a consensus price target of $83.06.

Oklo Price Performance

The business has a fifty day moving average of $62.90 and a 200-day moving average of $73.24. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of -70.13 and a beta of 1.10.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, research analysts anticipate that Oklo Inc. will post -0.78 EPS for the current year.

Insider Transactions at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of Oklo stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the transaction, the chief financial officer owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.29, for a total value of $9,560,600.00. Following the completion of the transaction, the chief executive officer directly owned 538,039 shares in the company, valued at $36,742,683.31. This represents a 20.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 889,849 shares of company stock worth $55,614,037 in the last three months. 18.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 acquiring an additional 2,968,981 shares during the period. Vanguard Group Inc. boosted its position in Oklo by 33.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after acquiring an additional 2,901,909 shares during the period. State Street Corp boosted its position in Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after acquiring an additional 1,752,946 shares during the period. Van ECK Associates Corp boosted its position in Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after acquiring an additional 1,316,867 shares during the period. Finally, Norges Bank acquired a new stake in Oklo during the 4th quarter worth about $73,786,000. 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.