Oklo (NYSE:OKLO) Stock Price Up 6.3% - Here's Why

Key Points

• Oklo shares rose 6.3% to about $41.29, with trading volume below the stock’s average. The company has a $7.18 billion market capitalization and remains unprofitable, with analysts forecasting a full-year loss of $0.74 per share.
• Analyst sentiment is broadly positive, with MarketBeat reporting a “Moderate Buy” consensus and an average price target of $88, well above the current share price. Published targets range from $55 to $122.
• Institutional investors own 85.03% of Oklo, while insiders have sold 483,629 shares worth nearly $29.9 million over the past 90 days, including sales by the CEO and CFO under pre-arranged trading plans.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares shot up 6.3% during trading on Monday . The company traded as high as $42.05 and last traded at $41.2930. 8,436,209 shares changed hands during trading, a decline of 27% from the average session volume of 11,568,943 shares. The stock had previously closed at $38.83.

Analyst Upgrades and Downgrades

OKLO has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on Oklo in a report on Monday, May 11th. They issued a "neutral" rating and a $83.00 price objective on the stock. HSBC began coverage on Oklo in a research report on Thursday, April 23rd. They issued a "buy" rating and a $96.00 target price on the stock. Weiss Ratings raised shares of Oklo from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 13th. Truist Financial began coverage on shares of Oklo in a research report on Monday, July 13th. They set a "hold" rating and a $55.00 price target for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $122.00 price objective on shares of Oklo in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $88.00.

Oklo Price Performance

The firm has a fifty day moving average of $53.26 and a 200 day moving average of $62.14. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of -49.16 and a beta of 1.17.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data 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 period in the previous year, the business posted ($0.07) earnings per share. Research analysts predict that Oklo Inc. will post -0.74 EPS for the current year.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.29, for a total value of $9,560,600.00. Following the sale, the chief executive officer directly owned 538,039 shares of the company's stock, valued at approximately $36,742,683.31. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the sale, the chief financial officer owned 397,642 shares of the company's stock, valued at $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 483,629 shares of company stock worth $29,855,608 in the last 90 days. Corporate insiders own 12.70% of the company's stock.

Hedge Funds Weigh In On Oklo

A number of large investors have recently added to or reduced their stakes in OKLO. Royal Bank of Canada grew its position in shares of Oklo by 162.6% in the first quarter. Royal Bank of Canada now owns 92,850 shares of the company's stock valued at $2,009,000 after purchasing an additional 57,497 shares during the period. AQR Capital Management LLC acquired a new position in shares of Oklo during the 1st quarter worth about $519,000. Millennium Management LLC lifted its stake in Oklo by 4,974.1% in the 1st 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 in the last quarter. NewEdge Advisors LLC lifted its stake in Oklo by 165.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company's stock valued at $339,000 after buying an additional 9,772 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Oklo by 90.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock worth $2,439,000 after buying an additional 53,703 shares during the last quarter. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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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