Oklo (NYSE:OKLO) Trading 1% Higher – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price was up 1% during mid-day trading on Monday . The stock traded as high as $40.95 and last traded at $40.56. Approximately 6,184,676 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 11,380,306 shares. The stock had previously closed at $40.14.

Wall Street Analyst Weigh In

A number of research firms recently commented on OKLO. Truist Financial decreased their price objective on shares of Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a report on Monday, August 10th. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Oklo in a research note on Monday, August 10th. Bank of America began coverage on Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Wolfe Research started coverage on Oklo in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. initiated coverage on Oklo in a report on Monday, May 11th. They set a “neutral” rating and a $83.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.03.

Oklo Trading Up 1.0%

The firm has a market cap of $7.54 billion, a PE ratio of -43.15 and a beta of 1.17. The stock’s 50 day moving average price is $45.57 and its 200 day moving average price is $56.35.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same period last year, the business posted ($0.18) earnings per share. The company’s revenue for the quarter was up 11900.0% compared to the same quarter last year. Analysts forecast that Oklo Inc. will post -0.9 earnings per share for the current year.

Insider Activity

In related news, General Counsel Vivek Narayanadas sold 3,264 shares of Oklo stock in a transaction on Monday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $129,809.28. Following the sale, the general counsel owned 7,822 shares of the company’s stock, valued at $311,080.94. The trade was a 29.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William Carroll Murphy Goodwin sold 11,592 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $461,013.84. Following the completion of the transaction, the insider owned 45,268 shares in the company, valued at $1,800,308.36. This represents a 20.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 216,175 shares of company stock worth $11,228,709. 12.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently bought and sold shares of OKLO. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Oklo in the second quarter valued at $502,000. California State Teachers Retirement System raised its stake in shares of Oklo by 6,518.7% in the 2nd quarter. California State Teachers Retirement System now owns 8,682,908 shares of the company’s stock valued at $454,377,000 after purchasing an additional 8,551,720 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Oklo in the 2nd quarter valued at about $481,000. Odyssean LLC bought a new position in shares of Oklo during the second quarter worth about $555,000. Finally, Nykredit A S acquired a new position in Oklo in the second quarter worth about $199,000. Institutional investors and hedge funds 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.