Oklo (NYSE:OKLO) Trading 5.4% Higher – Still a Buy?

Oklo Inc. (NYSE:OKLO) shares traded up 5.4% on Monday . The company traded as high as $61.98 and last traded at $60.57. 9,513,429 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 12,181,552 shares. The stock had previously closed at $57.49.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. HSBC began coverage on Oklo in a research note on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Oklo in a report on Wednesday, March 18th. Wolfe Research began coverage on Oklo in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Bank of America began coverage on Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Tigress Financial began coverage on Oklo in a report on Monday, April 27th. They issued a “buy” rating and a $130.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Oklo has a consensus rating of “Moderate Buy” and an average target price of $82.78.

Oklo Stock Performance

The business has a fifty day simple moving average of $63.68 and a 200 day simple moving average of $71.97. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of -72.11 and a beta of 1.10.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period last year, the business earned ($0.07) earnings per share. On average, sell-side analysts forecast that Oklo Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In other news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the sale, the chief financial officer directly owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. This represents a 15.53% decrease in their position. The transaction 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 the stock in a transaction on 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 sale, the chief executive officer directly owned 538,039 shares in the company, valued at approximately $36,742,683.31. This trade represents a 20.65% 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 three months, insiders have sold 699,971 shares of company stock valued at $44,221,357. 18.90% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

Large investors have recently modified their holdings of the stock. NBC Securities Inc. grew its holdings in shares of Oklo by 75.0% during the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Costello Asset Management INC grew its holdings in shares of Oklo by 66.7% during the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Oklo by 356.3% during the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after purchasing an additional 285 shares in the last quarter. Nemes Rush Group LLC acquired a new stake in shares of Oklo during the 3rd quarter worth $28,000. Finally, Gilpin Wealth Management LLC acquired a new stake in shares of Oklo during the 4th quarter worth $29,000. 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.