Oklo (NYSE:OKLO) Trading 12.3% Higher – Should You Buy?

Oklo Inc. (NYSE:OKLO) traded up 12.3% during mid-day trading on Wednesday . The company traded as high as $62.90 and last traded at $62.7690. 13,505,548 shares changed hands during trading, an increase of 15% from the average session volume of 11,779,754 shares. The stock had previously closed at $55.88.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price objective on shares of Oklo in a report on Wednesday, May 13th. B. Riley Financial dropped their price objective on shares of Oklo from $129.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. The Goldman Sachs Group dropped their price objective on shares of Oklo from $91.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Canaccord Genuity Group dropped their price objective on shares of Oklo from $175.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Finally, UBS Group dropped their price objective on shares of Oklo from $95.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.33.

Oklo Price Performance

The firm has a market capitalization of $11.33 billion, a P/E ratio of -77.49 and a beta of 1.16. The firm’s 50 day simple moving average is $60.90 and its two-hundred day simple moving average is $76.54.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same quarter in the prior year, the company earned ($0.07) earnings per share. As a group, equities research analysts forecast that Oklo Inc. will post -0.77 EPS for the current year.

Insiders Place Their Bets

In other Oklo news, CFO Richard Craig Bealmear sold 16,342 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $51.08, for a total value of $834,749.36. Following the completion of the sale, the chief financial officer directly owned 386,008 shares of the company’s stock, valued at $19,717,288.64. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $70.50, for a total transaction of $9,870,000.00. Following the completion of the transaction, the chief executive officer owned 598,039 shares in the company, valued at $42,161,749.50. The trade was a 18.97% 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 819,588 shares of company stock valued at $49,774,300 over the last three months. Insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently modified their holdings of OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Oklo by 71.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after acquiring an additional 2,968,981 shares during the period. Vanguard Group Inc. increased its position in shares of Oklo by 33.4% in the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after acquiring an additional 2,901,909 shares during the period. State Street Corp increased its position in shares of Oklo by 454.5% in the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after acquiring an additional 1,752,946 shares during the period. Van ECK Associates Corp increased its position in shares of Oklo by 61.0% in the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after acquiring an additional 1,316,867 shares during the period. Finally, Norges Bank purchased a new position in shares of Oklo in the fourth quarter valued at about $73,786,000. Hedge funds and other 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.