Oklo (NYSE:OKLO) Trading Up 4% – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s stock price rose 4% on Monday . The stock traded as high as $42.64 and last traded at $41.8770. 7,934,081 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 11,652,456 shares. The stock had previously closed at $40.25.

Wall Street Analysts Forecast Growth

Several analysts have commented on OKLO shares. UBS Group decreased their price objective on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $122.00 price objective on shares of Oklo in a research note on Wednesday, May 13th. JPMorgan Chase & Co. assumed coverage on shares of Oklo in a report on Monday, May 11th. They set a “neutral” rating and a $83.00 target price for the company. Citigroup boosted their target price on shares of Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Tigress Financial started coverage on shares of Oklo in a report on Monday, April 27th. They issued a “buy” rating and a $130.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Oklo Price Performance

The stock’s fifty day moving average is $54.80 and its 200-day moving average is $63.47. The stock has a market capitalization of $6.55 billion, a PE ratio of -44.78 and a beta of 1.14.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter last year, the business posted ($0.07) EPS. On average, analysts forecast that Oklo Inc. will post -0.74 EPS for the current year.

Insider Activity at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of Oklo stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 397,642 shares in the company, valued at $27,206,665.64. The trade was a 15.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.29, for a total value of $9,560,600.00. Following the completion of the transaction, the chief executive officer directly owned 538,039 shares of the company’s stock, valued at $36,742,683.31. The trade was a 20.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 683,629 shares of company stock worth $43,902,208 in the last 90 days. Corporate insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its position in Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after acquiring an additional 1,752,946 shares during the period. Norges Bank acquired a new position in shares of Oklo during the 4th quarter worth about $73,786,000. Millennium Management LLC raised 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 during the last quarter. Van ECK Associates Corp lifted its stake in Oklo by 13.9% in the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after buying an additional 481,288 shares in the last quarter. Finally, Clear Street Group Inc. lifted its stake in Oklo by 110.5% in the 4th quarter. Clear Street Group Inc. now owns 842,172 shares of the company’s stock valued at $60,434,000 after buying an additional 442,172 shares in the last quarter. Hedge funds and other institutional investors 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.