Oklo (NYSE:OKLO) Shares Up 1.3% – Should You Buy?

Oklo Inc. (NYSE:OKLO)’s stock price rose 1.3% on Monday . The stock traded as high as $49.85 and last traded at $48.7530. Approximately 4,886,921 shares changed hands during trading, a decline of 52% from the average daily volume of 10,244,272 shares. The stock had previously closed at $48.13.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OKLO shares. Craig Hallum reaffirmed a “hold” rating on shares of Oklo in a research note on Wednesday, March 18th. Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a report on Thursday, January 22nd. B. Riley Financial reduced their price objective on shares of Oklo from $129.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $111.00 to $127.00 in a report on Wednesday, January 21st. Finally, Needham & Company LLC cut their price target on Oklo from $135.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.30.

Oklo Trading Up 1.3%

The company has a market capitalization of $8.46 billion, a P/E ratio of -67.71 and a beta of 0.93. The business has a 50 day moving average price of $63.84 and a 200 day moving average price of $92.80.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same period last year, the company earned ($0.74) EPS. On average, analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity

In other Oklo news, CFO Richard Craig Bealmear sold 72,090 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $60.00, for a total value of $4,325,400.00. Following the completion of the transaction, the chief financial officer directly owned 386,008 shares of the company’s stock, valued at approximately $23,160,480. The trade was a 15.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 231,657 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $99.25, for a total value of $22,991,957.25. Following the completion of the sale, the chief executive officer owned 827,019 shares of the company’s stock, valued at $82,081,635.75. This trade represents a 21.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,238,766 shares of company stock worth $93,585,861. Corporate insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently made changes to their positions in OKLO. Hsbc Holdings PLC increased its position in shares of Oklo by 1,184.4% in the fourth quarter. Hsbc Holdings PLC now owns 112,372 shares of the company’s stock valued at $8,063,000 after acquiring an additional 103,623 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Oklo by 427.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 171,128 shares of the company’s stock valued at $12,280,000 after buying an additional 138,659 shares during the last quarter. SHP Wealth Management bought a new position in shares of Oklo during the 4th quarter worth approximately $32,000. Tulsa Wealth Advisors INC bought a new position in shares of Oklo during the 4th quarter worth approximately $332,000. Finally, Strategic Investment Solutions Inc. IL increased its holdings in shares of Oklo by 45.5% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,488 shares of the company’s stock worth $107,000 after acquiring an additional 465 shares during the last quarter. 85.03% of the stock is currently owned by institutional investors and hedge funds.

About Oklo

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.