Oklo (NYSE:OKLO) Trading 6.3% Higher – What’s Next?

Oklo Inc. (NYSE:OKLO) traded up 6.3% during trading on Monday . The stock traded as high as $42.05 and last traded at $41.2930. 8,436,209 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 11,568,943 shares. The stock had previously closed at $38.83.

Analysts Set New Price Targets

OKLO has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Oklo in a research note on Monday, May 11th. They set a “neutral” rating and a $83.00 target price on the stock. Wolfe Research initiated coverage on shares of Oklo in a research report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Weiss Ratings raised shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Barclays cut their price objective on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Finally, HSBC started coverage on Oklo in a report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Oklo Price Performance

The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of -49.16 and a beta of 1.17. The business has a fifty day moving average of $53.26 and a 200 day moving average of $62.14.

Oklo (NYSE:OKLO) last posted 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 last year, the firm posted ($0.07) EPS. On average, equities research analysts expect that Oklo Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling

In other Oklo news, CFO Richard Craig Bealmear sold 73,081 shares of the 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 completion of the transaction, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the sale, the insider owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This represents a 22.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 483,629 shares of company stock valued at $29,855,608. 12.70% of the stock is currently owned by insiders.

Institutional Trading of Oklo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. Royal Bank of Canada lifted its stake in Oklo by 162.6% during the first quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock worth $2,009,000 after purchasing an additional 57,497 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Oklo in the first quarter valued at $519,000. Millennium Management LLC raised its holdings in shares of Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after buying an additional 570,532 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Oklo by 165.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after buying an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Oklo by 90.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock worth $2,439,000 after acquiring an additional 53,703 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.