Oklo (NYSE:OKLO) Trading 5.3% Higher – Should You Buy?

Oklo Inc. (NYSE:OKLO)’s share price rose 5.3% on Tuesday . The stock traded as high as $44.24 and last traded at $43.4230. Approximately 8,568,910 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 11,548,646 shares. The stock had previously closed at $41.22.

Wall Street Analyst Weigh In

A number of research analysts have commented on OKLO shares. Weiss Ratings raised Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Tigress Financial initiated coverage on Oklo in a report on Monday, April 27th. They issued a “buy” rating and a $130.00 price target for the company. Truist Financial started coverage on Oklo in a research report on Monday, July 13th. They set a “hold” rating and a $55.00 price target on the stock. Wolfe Research assumed coverage on shares of Oklo in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $122.00 target price on shares of Oklo in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Oklo Price Performance

The company has a fifty day moving average price of $51.78 and a 200 day moving average price of $61.04. The company has a market capitalization of $7.34 billion, a P/E ratio of -50.25 and a beta of 1.17.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, equities research analysts predict that Oklo Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Oklo

In other Oklo news, CFO Richard Craig Bealmear sold 73,081 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the sale, the chief financial officer directly owned 397,642 shares in the company, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 business’s stock in a transaction on 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 directly owned 511,533 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 483,629 shares of company stock worth $29,855,608. 12.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in Oklo in the 2nd quarter worth about $24,532,000. Handelsbanken Fonder AB raised its holdings in shares of Oklo by 43.8% during the second quarter. Handelsbanken Fonder AB now owns 52,900 shares of the company’s stock valued at $2,768,000 after buying an additional 16,100 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Oklo by 12.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 36,609 shares of the company’s stock worth $1,916,000 after buying an additional 4,187 shares during the period. Gradient Investments LLC boosted its position in shares of Oklo by 38.6% during the second quarter. Gradient Investments LLC now owns 34,335 shares of the company’s stock worth $1,797,000 after buying an additional 9,570 shares during the period. Finally, Evanson Financial LLC bought a new position in Oklo in the 2nd quarter worth approximately $232,000. 85.03% of the stock is 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.