Oklo (NYSE:OKLO) Trading 1.2% Higher – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) traded up 1.2% on Friday . The company traded as high as $43.68 and last traded at $42.16. Approximately 6,470,027 shares changed hands during trading, a decline of 43% from the average daily volume of 11,379,524 shares. The stock had previously closed at $41.66.

Wall Street Analyst Weigh In

A number of brokerages have commented on OKLO. Bank of America started coverage on shares of Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 target price for the company. Truist Financial lowered their price target on shares of Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Royal Bank Of Canada set a $80.00 price objective on shares of Oklo in a research report on Friday, May 22nd. Tigress Financial assumed coverage on shares of Oklo in a research note on Monday, April 27th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Wolfe Research started coverage on shares of Oklo in a research note on Tuesday, May 19th. They set a “peer perform” rating for the company. One research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.03.

Oklo Trading Up 1.2%

The stock has a market cap of $7.84 billion, a price-to-earnings ratio of -44.85 and a beta of 1.17. The stock has a 50-day moving average price of $47.70 and a two-hundred day moving average price of $57.60.

Oklo (NYSE:OKLO) last announced its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Oklo’s quarterly revenue was up 11900.0% compared to the same quarter last year. Research analysts predict that Oklo Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Richard Craig Bealmear sold 73,081 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the sale, the chief financial officer owned 397,642 shares in the company, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the transaction, the chief executive officer owned 511,533 shares in the company, valued at approximately $27,008,942.40. This trade represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 473,081 shares of company stock valued at $29,243,402. Corporate insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. grew its holdings in shares of Oklo by 75.0% during the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after buying an additional 150 shares during the last quarter. Costello Asset Management INC raised its stake in Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Gilpin Wealth Management LLC purchased a new position in Oklo in the 4th quarter worth $29,000. SHP Wealth Management acquired a new stake in Oklo during the 4th quarter worth about $32,000. Finally, Ascentis Independent Advisors acquired a new stake in Oklo during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.