Oklo (NYSE:OKLO) Trading 6.2% Higher – Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO) traded up 6.2% during mid-day trading on Tuesday . The company traded as high as $44.19 and last traded at $44.0760. Approximately 8,408,468 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 11,709,974 shares. The stock had previously closed at $41.51.

Analysts Set New Price Targets

A number of research analysts have weighed in on OKLO shares. HSBC assumed coverage on Oklo in a report on Thursday, April 23rd. They set a “buy” rating and a $96.00 target price on the stock. Guggenheim began coverage on Oklo in a research report on Thursday, June 25th. They set a “neutral” rating on the stock. Royal Bank Of Canada set a $80.00 price target on Oklo in a research note on Friday, May 22nd. JPMorgan Chase & Co. initiated coverage on Oklo in a report on Monday, May 11th. They issued a “neutral” rating and a $83.00 price objective for the company. Finally, Tigress Financial initiated coverage on Oklo in a research report on Monday, April 27th. They set a “buy” rating and a $130.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.65.

Oklo Stock Down 1.2%

The firm has a fifty day moving average price of $56.37 and a two-hundred day moving average price of $64.83. The stock has a market capitalization of $7.65 billion, a P/E ratio of -52.77 and a beta of 1.14.

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 analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Sell-side analysts anticipate that Oklo Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the transaction, the chief executive officer directly owned 538,039 shares of the company’s stock, valued at $36,742,683.31. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the sale, the insider owned 36,175 shares of the company’s stock, valued at $2,099,597. The trade was a 22.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 683,629 shares of company stock worth $43,902,208 over the last quarter. 12.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OKLO. DNB Asset Management AS lifted its holdings in Oklo by 151.7% in the fourth quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock valued at $2,054,000 after acquiring an additional 17,253 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Oklo by 109.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 345,237 shares of the company’s stock worth $24,774,000 after purchasing an additional 180,377 shares during the last quarter. Prakash Investment Advisors LLC bought a new stake in shares of Oklo during the 4th quarter valued at about $1,246,000. M&T Bank Corp increased its position in shares of Oklo by 740.6% during the 4th quarter. M&T Bank Corp now owns 22,638 shares of the company’s stock valued at $1,625,000 after purchasing an additional 19,945 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Oklo by 23.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 259,726 shares of the company’s stock valued at $18,638,000 after purchasing an additional 48,953 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.