Oklo (NYSE:OKLO) Shares Up 8.4% - Here's Why

Key Points

• Shares of Oklo rose 8.4% intraday to $77.76 on Friday, with about 10.04 million shares traded—roughly 7% above the average daily volume.
• Analyst views are mixed: the MarketBeat consensus rating is Hold with a target price of $102.87, while recent reports range from Buy (targets up to $175/$135) to Sell.
• Company insiders have been net sellers, offloading 932,800 shares (~$76.8M) in the past three months, even as insiders still own ~18.9% of the stock and institutions hold about 85%.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) rose 8.4% during mid-day trading on Friday . The company traded as high as $77.92 and last traded at $77.76. Approximately 10,037,638 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 9,424,169 shares. The stock had previously closed at $71.76.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKLO. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oklo in a report on Wednesday, October 8th. Canaccord Genuity Group initiated coverage on shares of Oklo in a research report on Thursday, October 9th. They issued a "buy" rating and a $175.00 target price for the company. Needham & Company LLC initiated coverage on Oklo in a research report on Friday, December 5th. They set a "buy" rating and a $135.00 price objective for the company. UBS Group increased their price objective on Oklo from $65.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, December 3rd. Finally, Zacks Research upgraded Oklo from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $102.87.

Oklo Price Performance

The stock has a market cap of $12.15 billion, a P/E ratio of -144.00 and a beta of 0.76. The company has a fifty day moving average of $98.55 and a 200 day moving average of $91.41.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter in the prior year, the business posted ($0.08) earnings per share. As a group, analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insiders Place Their Bets

In other Oklo news, CFO Richard Craig Bealmear sold 5,159 shares of the company's stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $76.97, for a total value of $397,088.23. Following the completion of the sale, the chief financial officer directly owned 196,913 shares of the company's stock, valued at approximately $15,156,393.61. This represents a 2.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 5,864 shares of the firm's stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $88.42, for a total transaction of $518,494.88. Following the transaction, the insider owned 13,620 shares of the company's stock, valued at approximately $1,204,280.40. This trade represents a 30.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 932,800 shares of company stock worth $76,755,480. 18.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OKLO. Caldwell Sutter Capital Inc. acquired a new stake in shares of Oklo during the 2nd quarter valued at $25,000. Private Trust Co. NA purchased a new stake in shares of Oklo during the second quarter valued at $25,000. Fourth Dimension Wealth LLC boosted its position in shares of Oklo by 125.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock valued at $25,000 after purchasing an additional 250 shares during the period. Armstrong Advisory Group Inc. purchased a new position in Oklo in the 3rd quarter worth about $27,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Oklo during the 2nd quarter worth about $28,000. Institutional investors and hedge funds 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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