Oklo (NYSE:OKLO) Stock Price Up 11.9% - Time to Buy?

Key Points

• Shares jumped 11.9% to about $72.70 on Thursday, trading as high as $72.84 on volume ~26% above the daily average.
• Analysts are mixed but the consensus rating is a Moderate Buy with a $87.68 average price target after several firms lowered targets and issued varied ratings.
• Oklo remains unprofitable (Q1 EPS -$0.27 vs. -$0.17 expected; FY EPS forecast -0.75) and insiders have sold 818,766 shares (~$50.9M) over the past 90 days, leaving insiders with 18.9% ownership.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded up 11.9% on Thursday . The stock traded as high as $72.84 and last traded at $72.6990. 14,517,534 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 11,482,688 shares. The stock had previously closed at $64.98.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Canaccord Genuity Group lowered their price objective on Oklo from $175.00 to $125.00 and set a "buy" rating for the company in a research report on Wednesday, March 18th. Barclays lowered their price objective on Oklo from $146.00 to $82.00 and set an "overweight" rating for the company in a research report on Monday, February 23rd. Weiss Ratings downgraded Oklo from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. Wedbush reiterated an "outperform" rating on shares of Oklo in a research report on Friday, January 9th. Finally, UBS Group reduced their target price on Oklo from $95.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, March 26th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.68.

Oklo Price Performance

The company has a market capitalization of $12.64 billion, a PE ratio of -100.97 and a beta of 0.93. The company has a 50 day moving average of $59.61 and a two-hundred day moving average of $84.70.

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

Insider Buying and Selling

In related news, insider William Carroll Murphy Goodwin sold 2,820 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $56.69, for a total value of $159,865.80. Following the sale, the insider directly owned 15,991 shares of the company's stock, valued at $906,529.79. This represents a 14.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 60,000 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $50.25, for a total value of $3,015,000.00. Following the completion of the sale, the chief executive officer directly owned 691,533 shares in the company, valued at approximately $34,749,533.25. The trade was a 7.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 818,766 shares of company stock valued at $50,855,915 over the last ninety days. Company insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

Institutional investors have recently modified their holdings of the stock. NBC Securities Inc. grew its stake in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company's stock worth $25,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Oklo by 356.3% in the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company's stock worth $26,000 after acquiring an additional 285 shares during the last quarter. Gables Capital Management Inc. purchased a new stake in shares of Oklo in the third quarter worth $28,000. Nemes Rush Group LLC purchased a new stake in shares of Oklo in the third quarter worth $28,000. Finally, Gilpin Wealth Management LLC purchased a new stake in shares of Oklo in the fourth quarter worth $29,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.

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