Oklo (NYSE:OKLO) Trading Up 4% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price traded up 4% during mid-day trading on Monday . The company traded as high as $42.64 and last traded at $41.8770. 7,934,081 shares changed hands during trading, a decline of 32% from the average daily volume of 11,652,456 shares. The stock had previously closed at $40.25.

Analyst Ratings Changes

Several equities research analysts have weighed in on OKLO shares. Tigress Financial began coverage on Oklo in a report on Monday, April 27th. They issued a “buy” rating and a $130.00 price objective for the company. Weiss Ratings raised Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald restated an “overweight” rating and set a $122.00 target price on shares of Oklo in a report on Wednesday, May 13th. HSBC initiated coverage on Oklo in a research note on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price target for the company. Finally, Truist Financial initiated coverage on shares of Oklo in a report on Monday, July 13th. They issued a “hold” rating and a $55.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Oklo Stock Performance

The stock has a market cap of $7.29 billion, a P/E ratio of -49.85 and a beta of 1.14. The firm has a 50-day moving average price of $55.46 and a 200-day moving average price of $64.25.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period in the prior year, the business earned ($0.07) EPS. On average, research analysts predict that Oklo Inc. will post -0.74 earnings per share for the current year.

Insider Transactions at Oklo

In related news, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the transaction, the insider directly owned 36,175 shares in the company, valued at $2,099,597. This trade represents a 22.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 683,629 shares of company stock valued at $43,902,208 in the last three months. 12.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

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

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.