Oklo (NYSE:OKLO) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Oklo (NYSE:OKLO) posted its earnings results on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07), Zacks reports. During the same period in the previous year, the business earned ($0.08) EPS.

Oklo Stock Up 3.5%

Oklo stock opened at $107.89 on Wednesday. Oklo has a 52-week low of $17.14 and a 52-week high of $193.84. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of -258.58 and a beta of 0.70. The firm has a 50-day moving average price of $121.03 and a two-hundred day moving average price of $79.59.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Oklo in a research report on Wednesday. UBS Group set a $175.00 price objective on Oklo in a report on Thursday, October 9th. BTIG Research reiterated a “neutral” rating on shares of Oklo in a research note on Tuesday, August 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Oklo in a research report on Wednesday. Finally, BNP Paribas Exane began coverage on shares of Oklo in a research note on Friday, July 25th. They set an “underperform” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $97.71.

Insiders Place Their Bets

In other Oklo news, insider William Carroll Murphy Goodwin sold 41,387 shares of Oklo stock in a transaction on Friday, September 5th. The stock was sold at an average price of $70.09, for a total transaction of $2,900,814.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Craig Bealmear sold 7,622 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $101.44, for a total value of $773,175.68. Following the transaction, the chief financial officer owned 121,913 shares of the company’s stock, valued at $12,366,854.72. This trade represents a 5.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 491,387 shares of company stock worth $52,698,580. 18.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in 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 buying an additional 57,497 shares during the period. AQR Capital Management LLC acquired a new position in shares of Oklo during the first quarter valued at approximately $519,000. Millennium Management LLC lifted its position in Oklo by 4,974.1% in the first quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after purchasing an additional 570,532 shares during the period. NewEdge Advisors LLC boosted its stake in Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after purchasing an additional 9,772 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 valued at $2,439,000 after purchasing an additional 53,703 shares during the period. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.