Oklo (NYSE:OKLO) Stock Price Up 3.9% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price was up 3.9% during trading on Wednesday . The stock traded as high as $43.02 and last traded at $42.9630. Approximately 7,629,097 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 11,447,869 shares. The stock had previously closed at $41.36.

Analysts Set New Price Targets

Several research analysts recently issued reports on OKLO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 target price on shares of Oklo in a research report on Wednesday, May 13th. HSBC began coverage on Oklo in a research report on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price target for the company. Canaccord Genuity Group dropped their price objective on Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Tigress Financial began coverage on shares of Oklo in a report on Monday, April 27th. They set a “buy” rating and a $130.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $110.00 target price on shares of Oklo in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.03.

Oklo Price Performance

The company has a market capitalization of $7.99 billion, a P/E ratio of -45.71 and a beta of 1.17. The firm has a fifty day moving average price of $48.24 and a 200-day moving average price of $58.17.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. The company’s revenue was up 11900.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.18) earnings per share. On average, research analysts forecast that Oklo Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 397,642 shares in the company, valued at approximately $27,206,665.64. This represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the sale, the chief executive officer owned 511,533 shares of the company’s stock, valued at $27,008,942.40. This trade represents a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 473,081 shares of company stock valued at $29,243,402. Insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OKLO. NBC Securities Inc. raised its holdings in shares of Oklo by 75.0% in the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the period. Costello Asset Management INC increased its position in Oklo by 66.7% in the first quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Gilpin Wealth Management LLC bought a new stake in shares of Oklo in the fourth quarter valued at $29,000. SHP Wealth Management bought a new stake in shares of Oklo in the fourth quarter valued at $32,000. Finally, Ascentis Independent Advisors purchased a new position in shares of Oklo during the 1st quarter valued at $33,000. 85.03% of the stock is 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.