Oklo (NYSE:OKLO) Shares Up 5.3% - Still a Buy?

Key Points

• Oklo shares rose 5.3% to about $43.42, though trading volume was below average. The stock remains well below its 50-day and 200-day moving averages of $52.77 and $61.75, respectively.
• Analysts collectively rate Oklo “Moderate Buy,” with a consensus price target of $88. Ratings are mixed, ranging from Sell to Strong Buy, while recent targets include $55 from Truist and $80 from Bank of America.
• Insiders sold approximately $29.9 million worth of shares over the past 90 days, while institutional investors own 85.03% of the stock. Oklo recently reported a quarterly loss of $0.19 per share, slightly better than expectations.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price rose 5.3% on Tuesday . The company traded as high as $44.24 and last traded at $43.4230. Approximately 8,568,910 shares were traded during trading, a decline of 26% from the average session volume of 11,548,646 shares. The stock had previously closed at $41.22.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Truist Financial began coverage on shares of Oklo in a research report on Monday, July 13th. They issued a "hold" rating and a $55.00 price target on the stock. Bank of America started coverage on shares of Oklo in a report on Friday, May 22nd. They issued a "buy" rating and a $80.00 price objective for the company. Citigroup lifted their price objective on shares of Oklo from $73.50 to $76.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. UBS Group lowered their target price on shares of Oklo from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday, June 11th. Finally, Tigress Financial started coverage on Oklo in a research report on Monday, April 27th. They set a "buy" rating and a $130.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Oklo Price Performance

The stock has a market cap of $7.56 billion, a P/E ratio of -51.69 and a beta of 1.17. The firm's fifty day moving average price is $52.77 and its two-hundred day moving average price is $61.75.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period in the prior year, the business posted ($0.07) EPS. On average, research analysts expect that Oklo Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Richard Craig Bealmear sold 73,081 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the transaction, the chief financial officer owned 397,642 shares of the company's stock, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the completion of the transaction, the insider owned 36,175 shares in the company, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 483,629 shares of company stock worth $29,855,608. 12.70% of the stock is currently owned by insiders.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company's stock worth $119,743,000 after purchasing an additional 1,752,946 shares during the period. Norges Bank purchased a new stake in Oklo during the fourth quarter valued at about $73,786,000. Millennium Management LLC grew its stake in shares of Oklo by 4,974.1% during the first quarter. Millennium Management LLC now owns 582,002 shares of the company's stock valued at $12,589,000 after buying an additional 570,532 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Oklo by 13.9% during the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company's stock valued at $283,902,000 after buying an additional 481,288 shares during the last quarter. Finally, Clear Street Group Inc. increased its holdings in shares of Oklo by 110.5% in the fourth quarter. Clear Street Group Inc. now owns 842,172 shares of the company's stock worth $60,434,000 after buying an additional 442,172 shares during the period. 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.

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