Oklo (NYSE:OKLO) Trading 1.2% Higher - Time to Buy?

Key Points

• Oklo shares rose 1.2% to $42.16 in midday trading, although volume was 43% below the stock’s average daily level. The company has a $7.84 billion market capitalization and trades below both its 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $85.03. However, recent views range from a $76 target and “overweight” rating at Barclays to a $130 “buy” target from Tigress Financial.
• Oklo reported a quarterly loss of $0.28 per share, missing estimates by $0.12, while revenue reached $1.21 million—up 11,900% year over year. Insiders have sold 473,081 shares worth about $29.2 million over the past 90 days, while institutional investors own 85.03% of the stock.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) rose 1.2% on Friday . The company traded as high as $43.68 and last traded at $42.16. 6,470,027 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 11,379,524 shares. The stock had previously closed at $41.66.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of Oklo from $82.00 to $76.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. started coverage on shares of Oklo in a report on Monday, May 11th. They set a "neutral" rating and a $83.00 price objective for the company. Tigress Financial assumed coverage on shares of Oklo in a research report on Monday, April 27th. They issued a "buy" rating and a $130.00 price objective for the company. Bank of America started coverage on shares of Oklo in a research note on Friday, May 22nd. They issued a "buy" rating and a $80.00 target price on the stock. Finally, Wolfe Research assumed coverage on shares of Oklo in a research report on Tuesday, May 19th. They set a "peer perform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $85.03.

Oklo Stock Performance

The firm has a market capitalization of $7.84 billion, a PE ratio of -44.85 and a beta of 1.17. The company has a fifty day simple moving average of $47.70 and a two-hundred day simple moving average of $57.60.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.12). The firm had revenue of $1.21 million during the quarter, compared to analyst estimates of $0.09 million. The company's quarterly revenue was up 11900.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) earnings per share. On average, equities analysts anticipate that Oklo Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In other Oklo news, CFO Richard Craig Bealmear sold 73,081 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the transaction, the chief financial officer owned 397,642 shares of the company's stock, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the completion of the sale, the chief executive officer owned 511,533 shares of the company's stock, valued at approximately $27,008,942.40. This represents a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 473,081 shares of company stock valued at $29,243,402. 12.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Oklo

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in Oklo by 162.6% in the first quarter. Royal Bank of Canada now owns 92,850 shares of the company's stock worth $2,009,000 after buying an additional 57,497 shares in the last quarter. AQR Capital Management LLC bought a new stake in Oklo during the 1st quarter valued at $519,000. Millennium Management LLC increased its holdings in shares of 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 acquiring an additional 570,532 shares during the period. NewEdge Advisors LLC increased its holdings in shares of 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 acquiring an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 valued at $2,439,000 after acquiring an additional 53,703 shares during the period. 85.03% of the stock is currently owned by 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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