Oklo (NYSE:OKLO) Stock Price Up 4% - Here's What Happened

Key Points

• Oklo shares rose 4% to about $41.88 in Monday trading, although volume was 32% below the stock’s average daily level.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $88; individual targets range from $55 to $110.
• Oklo slightly exceeded quarterly EPS expectations, reporting a loss of $0.19 per share versus the $0.20 expected. However, insiders have sold about $43.9 million of stock over the past 90 days.

Oklo Inc. (NYSE:OKLO - Get Free Report) rose 4% during trading on Monday . The stock traded as high as $42.64 and last traded at $41.8770. Approximately 7,934,081 shares were traded during trading, a decline of 32% from the average daily volume of 11,652,456 shares. The stock had previously closed at $40.25.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OKLO shares. HSBC started coverage on shares of Oklo in a research report on Thursday, April 23rd. They set a "buy" rating and a $96.00 target price for the company. Wedbush reissued an "outperform" rating and issued a $110.00 price target on shares of Oklo in a report on Tuesday, May 26th. UBS Group lowered their price objective on shares of Oklo from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Thursday, June 11th. Truist Financial initiated coverage on shares of Oklo in a report on Monday, July 13th. They set a "hold" rating and a $55.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Oklo in a research report on Monday, May 11th. They issued a "neutral" rating and a $83.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Oklo presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

Oklo Price Performance

The firm has a market cap of $7.29 billion, a PE ratio of -49.85 and a beta of 1.14. The company has a 50 day simple moving average of $55.46 and a 200-day simple moving average of $64.25.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same quarter in the previous year, the company earned ($0.07) EPS. On average, sell-side analysts predict that Oklo Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction 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 transaction, the insider owned 36,175 shares in the company, valued at $2,099,597. This trade represents a 22.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 140,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the sale, the chief executive officer owned 538,039 shares of the company's stock, valued at approximately $36,742,683.31. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 683,629 shares of company stock worth $43,902,208 in the last 90 days. 12.70% of the stock is owned by company insiders.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company's stock valued at $119,743,000 after buying an additional 1,752,946 shares during the period. Norges Bank purchased a new position in shares of Oklo in the fourth quarter valued at about $73,786,000. Millennium Management LLC raised 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 acquiring an additional 570,532 shares during the last quarter. Van ECK Associates Corp raised 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 acquiring an additional 481,288 shares during the last quarter. Finally, Clear Street Group Inc. boosted its holdings in shares of Oklo by 110.5% during the fourth quarter. Clear Street Group Inc. now owns 842,172 shares of the company's stock worth $60,434,000 after purchasing an additional 442,172 shares during the period. Institutional investors 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.

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