Oklo (NYSE:OKLO) Trading Up 6.7% - Should You Buy?

Key Points

• Oklo Inc. (NYSE:OKLO) shares surged by 6.7% during mid-day trading, reaching a high of $161.41 before closing at $147.32, with trading volume increasing by 108% compared to the average session.
• Wall Street analysts have given mixed ratings, with Citigroup raising the price target to $68, while other firms like Seaport Res Ptn downgraded their rating to "hold"; the overall consensus is a "Hold" with a price target of $98.14.
• The company reported an earnings miss of $0.18 EPS against consensus estimates of ($0.12), with expectations for an average full-year EPS of -8.2.

Oklo Inc. (NYSE:OKLO - Get Free Report) shot up 6.7% during mid-day trading on Friday . The company traded as high as $161.41 and last traded at $147.32. 38,654,983 shares traded hands during trading, an increase of 108% from the average session volume of 18,622,086 shares. The stock had previously closed at $138.13.

Wall Street Analyst Weigh In

OKLO has been the topic of several analyst reports. Citigroup lifted their price target on shares of Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. William Blair restated an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a report on Sunday, July 27th. Daiwa Capital Markets raised shares of Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday, July 27th. Finally, Seaport Res Ptn cut shares of Oklo from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Oklo has a consensus rating of "Hold" and a consensus price target of $98.14.

Oklo Price Performance

The company has a 50 day moving average price of $92.12 and a 200 day moving average price of $60.33. The firm has a market cap of $21.75 billion, a PE ratio of -350.75 and a beta of 0.69.

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

Insider Transactions at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the completion of the sale, the director directly owned 150,000 shares of the company's stock, valued at $20,064,000. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard Craig Bealmear sold 7,622 shares of the company's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $101.44, for a total value of $773,175.68. Following the transaction, the chief financial officer directly owned 121,913 shares in the company, valued at $12,366,854.72. The trade was a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,387 shares of company stock worth $52,698,580. Corporate insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently bought and sold shares of OKLO. KBC Group NV boosted its position in Oklo by 11.8% in the 2nd quarter. KBC Group NV now owns 1,849 shares of the company's stock valued at $104,000 after buying an additional 195 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in Oklo during the third quarter worth about $27,000. Fourth Dimension Wealth LLC lifted its holdings in Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after acquiring an additional 250 shares in the last quarter. MRA Advisory Group lifted its holdings in Oklo by 2.8% during the second quarter. MRA Advisory Group now owns 9,770 shares of the company's stock worth $547,000 after acquiring an additional 266 shares in the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of Oklo by 82.9% in the 2nd quarter. Rothschild Investment LLC now owns 640 shares of the company's stock valued at $36,000 after purchasing an additional 290 shares during the period. 85.03% of the stock is owned by institutional investors and hedge funds.

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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