Oklo (NYSE:OKLO) Trading 2% Higher – Still a Buy?

Shares of Oklo Inc. (NYSE:OKLO) traded up 2% on Monday . The stock traded as high as $68.30 and last traded at $68.1390. 12,786,646 shares changed hands during trading, an increase of 20% from the average session volume of 10,655,752 shares. The stock had previously closed at $66.81.

Analysts Set New Price Targets

OKLO has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, February 23rd. Craig Hallum reaffirmed a “hold” rating on shares of Oklo in a research report on Wednesday, March 18th. Wedbush reiterated an “outperform” rating on shares of Oklo in a report on Friday, January 9th. Needham & Company LLC cut their target price on Oklo from $135.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Finally, Bank of America upgraded Oklo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $111.00 to $127.00 in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.30.

Oklo Stock Performance

The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of -100.52 and a beta of 0.93. The firm has a 50-day simple moving average of $58.96 and a two-hundred day simple moving average of $87.14.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same period last year, the business earned ($0.74) EPS. As a group, equities analysts forecast that Oklo Inc. will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total transaction of $7,054,600.00. Following the sale, the chief executive officer owned 656,483 shares of the company’s stock, valued at approximately $33,080,178.37. This represents a 17.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Craig Bealmear sold 16,342 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $51.08, for a total value of $834,749.36. Following the completion of the sale, the chief financial officer owned 386,008 shares in the company, valued at approximately $19,717,288.64. The trade was a 4.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 818,766 shares of company stock worth $50,855,915 in the last ninety days. 18.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after acquiring an additional 2,968,981 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Oklo by 33.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after purchasing an additional 2,901,909 shares during the last quarter. State Street Corp lifted its position in shares of Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after purchasing an additional 1,316,867 shares in the last quarter. Finally, Norges Bank purchased a new position in Oklo in the fourth quarter valued at $73,786,000. 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.