Oklo (NYSE:OKLO) Trading 1.4% Higher – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares traded up 1.4% during mid-day trading on Monday . The stock traded as high as $60.35 and last traded at $58.9060. 8,861,035 shares changed hands during trading, a decline of 28% from the average session volume of 12,290,597 shares. The stock had previously closed at $58.09.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Oklo in a research note on Monday, May 11th. They set a “neutral” rating and a $83.00 price target for the company. Wolfe Research assumed coverage on Oklo in a research note on Tuesday, May 19th. They set a “peer perform” rating for the company. HSBC assumed coverage on Oklo in a research note on Thursday, April 23rd. They set a “buy” rating and a $96.00 price target for the company. B. Riley Financial decreased their price target on Oklo from $129.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Finally, Barclays decreased their target price on Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.06.

Oklo Stock Performance

The firm has a 50 day moving average of $63.16 and a two-hundred day moving average of $72.65. The stock has a market cap of $9.41 billion, a P/E ratio of -64.38 and a beta of 1.10.

Oklo (NYSE:OKLO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period in the prior year, the company posted ($0.07) EPS. On average, sell-side analysts anticipate that Oklo Inc. will post -0.78 EPS for the current fiscal year.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction that occurred on 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 owned 538,039 shares of the company’s stock, valued at $36,742,683.31. This represents a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the transaction, the insider directly owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 889,849 shares of company stock worth $55,614,037 in the last 90 days. 18.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Large investors have recently added to or reduced their stakes in the company. Caprock Group LLC acquired a new position in shares of Oklo in the 3rd quarter worth approximately $14,829,000. Envestnet Asset Management Inc. raised its holdings in shares of Oklo by 298.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 23,396 shares of the company’s stock worth $2,612,000 after buying an additional 17,526 shares in the last quarter. DNB Asset Management AS raised its holdings in shares of Oklo by 151.7% in the 4th quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock worth $2,054,000 after buying an additional 17,253 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Oklo during the 3rd quarter worth approximately $2,177,000. Finally, Van ECK Associates Corp grew its position in Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after acquiring an additional 1,316,867 shares during the last quarter. 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.