Oklo (NYSE:OKLO) Trading Up 2.7% – What’s Next?

Oklo Inc. (NYSE:OKLO) shares were up 2.7% during mid-day trading on Monday . The company traded as high as $64.90 and last traded at $64.67. Approximately 7,148,641 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 11,416,779 shares. The stock had previously closed at $62.95.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OKLO. William Blair reissued an “outperform” rating on shares of Oklo in a research note on Wednesday, November 12th. Needham & Company LLC reiterated a “buy” rating on shares of Oklo in a research report on Friday, January 9th. Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $111.00 to $127.00 in a report on Wednesday, January 21st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $106.00 price target on shares of Oklo in a research note on Friday, January 9th. Finally, Barclays cut their price target on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Oklo has a consensus rating of “Moderate Buy” and a consensus target price of $98.93.

Oklo Stock Performance

The stock’s 50 day moving average price is $79.42 and its 200 day moving average price is $96.09. The company has a market capitalization of $10.10 billion, a P/E ratio of -119.76 and a beta of 0.81.

Insider Transactions at Oklo

In other Oklo news, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $74.45, for a total transaction of $4,467,000.00. Following the completion of the sale, the chief executive officer directly owned 748,197 shares in the company, valued at approximately $55,703,266.65. This trade represents a 7.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Craig Bealmear sold 9,726 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $76.93, for a total value of $748,221.18. Following the completion of the transaction, the chief financial officer directly owned 196,913 shares in the company, valued at $15,148,517.09. This represents a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,744,726 shares of company stock valued at $151,549,790. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in Oklo by 162.6% during the first quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock worth $2,009,000 after acquiring an additional 57,497 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Oklo during the first quarter valued at about $519,000. Millennium Management LLC boosted its position in shares of Oklo by 4,974.1% during the 1st 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 in the last quarter. NewEdge Advisors LLC grew its stake in shares of Oklo by 165.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after buying an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Oklo by 90.9% in 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 buying an additional 53,703 shares during the period. Institutional investors own 85.03% of the company’s stock.

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.