Oklo (NYSE:OKLO) Shares Gap Up - Time to Buy?

Key Points

• Oklo shares gapped up premarket, opening at $77.73 versus a prior close of $72.41 and trading near $76.30, about a 6.7% intraday rise.
• Wall Street holds a consensus rating of Moderate Buy with a consensus price target of $85.03, though analysts are mixed — Bank of America upgraded to Buy ($127 target) while several firms cut targets.
• There has been significant insider selling recently: the CFO and CEO sold 72,090 and 140,000 shares respectively, with insiders offloading a total of 818,766 shares valued at roughly $50.9 million last quarter.

Oklo Inc. (NYSE:OKLO - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $72.41, but opened at $77.73. Oklo shares last traded at $76.2990, with a volume of 10,216,454 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OKLO. Bank of America raised Oklo from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $111.00 to $127.00 in a research report on Wednesday, January 21st. UBS Group decreased their price objective on Oklo from $95.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, March 26th. The Goldman Sachs Group decreased their price objective on Oklo from $91.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. B. Riley Financial cut 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, Zacks Research upgraded Oklo from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Oklo currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.03.

Oklo Stock Up 6.7%

The business has a 50-day moving average price of $59.08 and a 200-day moving average price of $87.04. The firm has a market capitalization of $13.41 billion, a PE ratio of -107.29 and a beta of 0.93.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.10). During the same quarter last year, the firm posted ($0.74) earnings per share. On average, equities research analysts anticipate that Oklo Inc. will post -0.75 earnings per share for the current year.

Insider Activity at Oklo

In related news, CFO Richard Craig Bealmear sold 72,090 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $60.00, for a total value of $4,325,400.00. Following the completion of the transaction, the chief financial officer directly owned 386,008 shares in the company, valued at approximately $23,160,480. This represents a 15.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 140,000 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $75.18, for a total value of $10,525,200.00. Following the transaction, the chief executive officer owned 739,023 shares of the company's stock, valued at approximately $55,559,749.14. This represents a 15.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 818,766 shares of company stock valued at $50,855,915 over the last quarter. 18.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. Caprock Group LLC acquired a new stake in shares of Oklo in the third quarter valued at $14,829,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Oklo by 48.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,860 shares of the company's stock valued at $18,403,000 after buying an additional 54,080 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Oklo by 298.6% in the third quarter. Envestnet Asset Management Inc. now owns 23,396 shares of the company's stock valued at $2,612,000 after buying an additional 17,526 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Oklo during the third quarter worth about $2,177,000. Finally, Van ECK Associates Corp increased its position in shares of Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company's stock worth $387,914,000 after purchasing an additional 1,316,867 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

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