Oklo (NYSE:OKLO) Trading 11.3% Higher - Here's Why

Key Points

• Oklo Inc. saw its stock price increase by 11.3% to around $129.64, with an impressive trading volume of over 28 million shares, surpassing the average volume by 52%.
• Analysts' opinions on Oklo vary, with a consensus rating of "Hold" and a target price of $83.77, while notable price adjustments have been made by firms like Citigroup and Bank of America.
• Despite recent price gains, Oklo reported a loss of ($0.18) per share in its latest earnings, missing expectations; insiders have also been active in selling shares recently.

Oklo Inc. (NYSE:OKLO - Get Free Report) traded up 11.3% on Thursday . The company traded as high as $129.64 and last traded at $128.99. 28,202,685 shares were traded during trading, an increase of 52% from the average session volume of 18,507,139 shares. The stock had previously closed at $115.93.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. William Blair reissued an "outperform" rating on shares of Oklo in a research note on Tuesday, August 12th. Citigroup boosted their price objective on Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Bank of America reaffirmed a "neutral" rating and issued a $117.00 price target (up previously from $92.00) on shares of Oklo in a research note on Tuesday. Craig Hallum lowered Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target on the stock. in a research note on Monday, June 23rd. Finally, HC Wainwright upped their price target on Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.77.

Oklo Trading Up 11.3%

The company has a fifty day simple moving average of $85.05 and a two-hundred day simple moving average of $55.96. The company has a market cap of $19.04 billion, a PE ratio of -307.11 and a beta of 0.68.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity

In other news, CFO Richard Craig Bealmear sold 92,378 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $93.73, for a total value of $8,658,589.94. Following the transaction, the chief financial officer owned 75,738 shares in the company, valued at approximately $7,098,922.74. This represents a 54.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the transaction, the director owned 150,000 shares in the company, valued at approximately $20,064,000. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,387 shares of company stock worth $19,020,580. 18.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OKLO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Oklo by 358.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,069 shares of the company's stock worth $1,254,000 after buying an additional 46,188 shares during the last quarter. Parallel Advisors LLC grew its stake in Oklo by 42.4% during the 1st quarter. Parallel Advisors LLC now owns 11,862 shares of the company's stock worth $257,000 after buying an additional 3,530 shares during the last quarter. Rhumbline Advisers purchased a new position in Oklo during the 1st quarter worth approximately $65,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Oklo during the 1st quarter worth approximately $410,000. Finally, MRA Advisory Group purchased a new position in Oklo during the 1st quarter worth approximately $206,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.

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