Oklo (NYSE:OKLO) Stock Price Up 11.2% – Should You Buy?

Oklo Inc. (NYSE:OKLO)’s stock price was up 11.2% on Thursday . The company traded as high as $38.84 and last traded at $39.6250. Approximately 5,817,825 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 11,270,051 shares. The stock had previously closed at $35.62.

Analyst Ratings Changes

Several research analysts recently commented on OKLO shares. Wedbush reiterated an “outperform” rating and set a $110.00 price objective on shares of Oklo in a research note on Tuesday, May 26th. Bank of America assumed coverage on shares of Oklo in a research note on Friday, May 22nd. They issued a “buy” rating and a $80.00 target price for the company. Citigroup reduced their price target on Oklo from $76.00 to $57.50 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Canaccord Genuity Group decreased their price objective on Oklo from $125.00 to $100.00 and set a “buy” rating for the company in a report on Monday, August 10th. Finally, Truist Financial lowered their price objective on Oklo from $55.00 to $51.00 and set a “hold” rating for the company in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.26.

Oklo Trading Up 11.7%

The company’s 50-day moving average is $42.18 and its 200 day moving average is $53.88. The stock has a market capitalization of $7.40 billion, a PE ratio of -42.45 and a beta of 1.18.

Oklo (NYSE:OKLO) last released its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The business had revenue of $1.21 million for the quarter, compared to the consensus estimate of $0.09 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The company’s revenue was up 11900.0% compared to the same quarter last year. Sell-side analysts forecast that Oklo Inc. will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In other news, Director John M. Jansen sold 6,354 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $36.67, for a total transaction of $233,001.18. Following the sale, the director directly owned 6,000 shares of the company’s stock, valued at $220,020. The trade was a 51.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Vivek Narayanadas sold 3,264 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $39.77, for a total value of $129,809.28. Following the completion of the transaction, the general counsel directly owned 7,822 shares in the company, valued at approximately $311,080.94. The trade was a 29.44% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 362,030 shares of company stock valued at $16,851,123. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Van ECK Associates Corp boosted its position in Oklo by 13.9% in the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after buying an additional 481,288 shares during the last quarter. Geode Capital Management LLC lifted its stake in Oklo by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock valued at $201,671,000 after acquiring an additional 185,265 shares during the period. Norges Bank acquired a new stake in Oklo during the 4th quarter valued at approximately $73,786,000. Clear Street Group Inc. boosted its holdings in shares of Oklo by 110.5% in the 4th quarter. Clear Street Group Inc. now owns 842,172 shares of the company’s stock valued at $60,434,000 after acquiring an additional 442,172 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Oklo by 5.2% in the 4th quarter. Capital World Investors now owns 505,938 shares of the company’s stock valued at $36,306,000 after acquiring an additional 24,923 shares during the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.

About Oklo

Oklo Inc is an advanced nuclear technology company focused on developing and commercializing small-scale fission power plants. The company’s flagship product, the Aurora powerhouse, is designed to provide reliable, long-term electricity and heat using advanced nuclear reactor technology. Oklo is targeting applications such as industrial operations, data centers, defense facilities and other customers that require dependable, low-carbon energy.

Oklo is also developing fuel-recycling capabilities intended to use certain forms of nuclear fuel more efficiently and reduce the volume of nuclear waste requiring disposal.