Oklo (NYSE:OKLO) Shares Up 6.3% – Here’s What Happened

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

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group lowered their price objective on Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Bank of America began coverage on shares of Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Weiss Ratings upgraded Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Citigroup upped their target price on shares of Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Tigress Financial assumed coverage on shares of Oklo in a research note on Monday, April 27th. They set a “buy” rating and a $130.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Oklo Stock Performance

The stock’s fifty day moving average price is $52.27 and its two-hundred day moving average price is $61.38. The company has a market cap of $7.50 billion, a P/E ratio of -51.35 and a beta of 1.17.

Oklo (NYSE:OKLO) last released its quarterly earnings data 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 last year, the business earned ($0.07) earnings per share. On average, equities research analysts forecast that Oklo Inc. will post -0.74 EPS for the current year.

Insider Transactions at Oklo

In other news, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 company’s stock in a transaction on 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 sale, the chief financial officer directly owned 397,642 shares in the company, valued at $27,206,665.64. This trade represents a 15.53% 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. Over the last three months, insiders have sold 483,629 shares of company stock worth $29,855,608. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of Oklo by 162.6% during the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after acquiring an additional 57,497 shares during the period. AQR Capital Management LLC bought a new position in shares of Oklo during the 1st quarter worth about $519,000. Millennium Management LLC grew its stake 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 increased its position in 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 buying an additional 53,703 shares during the period. 85.03% of the stock is currently owned by 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.