Oklo (NYSE:OKLO) Trading Up 4.2% - Here's Why

Key Points

• OKLO jumped 4.2% on Monday to about $56.26 (intraday high $57.21) on trading of 9.19M shares, roughly 14% below its average session volume.
• Wall Street sentiment is mixed but collectively a “Moderate Buy” with a consensus price target of $86.63 (two Strong Buy, nine Buy, six Hold, two Sell).
• The company reported weaker-than-expected Q1 results (EPS -$0.27 vs. -$0.17 estimate) and has seen meaningful insider selling recently, including CEO and CFO disposals and 1.22M shares sold in the past 90 days.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price shot up 4.2% on Monday . The stock traded as high as $57.21 and last traded at $56.2560. 9,192,267 shares were traded during trading, a decline of 14% from the average session volume of 10,723,322 shares. The stock had previously closed at $53.97.

Wall Street Analysts Forecast Growth

OKLO has been the topic of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price target on shares of Oklo in a research report on Wednesday, March 18th. Weiss Ratings reissued a "sell (d)" rating on shares of Oklo in a research report on Thursday, January 22nd. Barclays dropped their target price on shares of Oklo from $146.00 to $82.00 and set an "overweight" rating on the stock in a research report on Monday, February 23rd. Zacks Research upgraded shares of Oklo from a "strong sell" rating to a "hold" rating in a research note on Thursday. Finally, B. Riley Financial reduced their price target on shares of Oklo from $129.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Oklo currently has an average rating of "Moderate Buy" and a consensus price target of $86.63.

Oklo Trading Up 4.2%

The firm has a fifty day simple moving average of $72.38 and a 200 day simple moving average of $94.90. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of -78.13 and a beta of 0.81.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same period in the prior year, the business earned ($0.74) earnings per share. On average, equities analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 231,657 shares of Oklo stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $99.25, for a total transaction of $22,991,957.25. Following the sale, the chief executive officer owned 827,019 shares in the company, valued at $82,081,635.75. The trade was a 21.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Craig Bealmear sold 72,090 shares of the business's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $60.00, for a total transaction of $4,325,400.00. Following the completion of the sale, the chief financial officer directly owned 386,008 shares in the company, valued at $23,160,480. This trade represents a 15.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,222,424 shares of company stock valued at $100,739,512. 18.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its holdings in Oklo by 1,184.4% during the 4th quarter. Hsbc Holdings PLC now owns 112,372 shares of the company's stock valued at $8,063,000 after purchasing an additional 103,623 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Oklo by 427.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 171,128 shares of the company's stock worth $12,280,000 after buying an additional 138,659 shares during the last quarter. SHP Wealth Management bought a new stake in Oklo during the fourth quarter worth about $32,000. Tulsa Wealth Advisors INC acquired a new stake in shares of Oklo during the fourth quarter worth approximately $332,000. Finally, Strategic Investment Solutions Inc. IL raised its stake in shares of Oklo by 45.5% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,488 shares of the company's stock valued at $107,000 after acquiring an additional 465 shares during 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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