Oklo (NYSE:OKLO) Shares Up 7.3% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price was up 7.3% on Friday . The company traded as high as $85.26 and last traded at $83.39. Approximately 11,305,336 shares traded hands during trading, a decline of 37% from the average daily volume of 17,942,738 shares. The stock had previously closed at $77.72.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Oklo in a research report on Thursday, September 25th. They set a “neutral” rating and a $117.00 price target for the company. Bank of America reduced their target price on Oklo from $117.00 to $111.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Citigroup restated a “neutral” rating on shares of Oklo in a research note on Monday, November 24th. Canaccord Genuity Group initiated coverage on Oklo in a research report on Thursday, October 9th. They set a “buy” rating and a $175.00 price target for the company. Finally, B. Riley upped their price objective on shares of Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.87.

Oklo Trading Up 7.3%

The stock has a market capitalization of $13.03 billion, a PE ratio of -154.43 and a beta of 0.73. The business has a fifty day moving average price of $113.63 and a 200-day moving average price of $89.85.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter in the prior year, the firm earned ($0.08) earnings per share. On average, equities analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In related news, insider William Carroll Murphy Goodwin sold 5,864 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $88.42, for a total transaction of $518,494.88. Following the transaction, the insider owned 13,620 shares of the company’s stock, valued at approximately $1,204,280.40. This trade represents a 30.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the completion of the transaction, the director owned 150,000 shares in the company, valued at approximately $20,064,000. The trade was a 25.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 367,800 shares of company stock valued at $42,100,057. Corporate insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caldwell Sutter Capital Inc. bought a new stake in Oklo in the second quarter valued at approximately $25,000. Private Trust Co. NA purchased a new position in shares of Oklo in the second quarter worth $25,000. Fourth Dimension Wealth LLC raised its holdings in Oklo by 125.0% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after buying an additional 250 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in Oklo during the 3rd quarter valued at $27,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Oklo in the 2nd quarter worth $28,000. 85.03% of the stock is currently 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.