Oklo (NYSE:OKLO) Trading Up 15.6% - Here's What Happened

Key Points

• Shares jumped 15.6% midday to $72.38 on heavy volume — about 17.9 million shares traded, a 66% increase over the daily average.
• Analyst sentiment is mixed: MarketBeat shows an average rating of "Moderate Buy" with an average target of $84.30, even as Citigroup, Needham and Goldman recently cut price targets into the $65–$73 range.
• Oklo reported an EPS miss (‑$0.27 vs. ‑$0.17 expected) and company insiders have been selling sizable positions (CEO and CFO recent sales; 818,766 shares worth ~$50.9M sold last quarter), while institutional investors own about 85% of the stock.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price was up 15.6% during mid-day trading on Wednesday . The stock traded as high as $72.63 and last traded at $72.3790. Approximately 17,875,350 shares changed hands during mid-day trading, an increase of 66% from the average daily volume of 10,775,697 shares. The stock had previously closed at $62.61.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OKLO shares. Zacks Research upgraded shares of Oklo from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 19th. Weiss Ratings reiterated a "sell (d)" rating on shares of Oklo in a research report on Thursday, January 22nd. Citigroup reduced their price target on shares of Oklo from $95.00 to $73.50 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Needham & Company LLC reduced their price target on shares of Oklo from $135.00 to $73.00 and set a "buy" rating for the company in a research report on Wednesday, March 18th. Finally, The Goldman Sachs Group reduced their price target on shares of Oklo from $91.00 to $65.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $84.30.

Oklo Stock Performance

The company has a market cap of $12.56 billion, a PE ratio of -100.52 and a beta of 0.93. The stock's 50-day simple moving average is $58.96 and its 200 day simple moving average is $87.14.

Oklo (NYSE:OKLO - Get Free Report) last released its earnings results on Tuesday, March 17th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same period in the prior year, the business posted ($0.74) EPS. On average, sell-side analysts predict that Oklo Inc. will post -0.78 EPS for the current fiscal year.

Insider Transactions at Oklo

In other news, CFO Richard Craig Bealmear sold 16,342 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $51.08, for a total value of $834,749.36. Following the completion of the sale, the chief financial officer owned 386,008 shares in the company, valued at approximately $19,717,288.64. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 140,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total transaction of $7,054,600.00. Following the completion of the sale, the chief executive officer owned 656,483 shares of the company's stock, valued at $33,080,178.37. This trade represents a 17.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 818,766 shares of company stock worth $50,855,915. Company insiders own 18.90% of the company's stock.

Institutional Trading of Oklo

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Oklo by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company's stock valued at $835,107,000 after purchasing an additional 44,036 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Oklo by 71.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company's stock valued at $792,822,000 after purchasing an additional 2,968,981 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Oklo by 13.9% in the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company's stock valued at $283,902,000 after purchasing an additional 481,288 shares in the last quarter. State Street Corp increased its holdings in shares of Oklo by 23.6% in the 4th quarter. State Street Corp now owns 3,060,220 shares of the company's stock valued at $219,601,000 after purchasing an additional 584,184 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Oklo by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company's stock valued at $201,671,000 after purchasing an additional 185,265 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company's stock.

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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