Oklo (NYSE:OKLO) Trading Up 8.5% - What's Next?

Key Points

• Oklo shares rose 8.5% on Tuesday to last trade at $58.55 (intraday high $61.61) on a volume spike of 18.0 million shares, up about 77% versus the average session volume.
• The company reported an EPS miss (‑$0.27 vs. consensus ‑$0.17), and several analysts have trimmed price targets; MarketBeat shows a consensus rating of Moderate Buy with a $84.30 target.
• Significant insider selling has occurred recently (CEO Jacob Dewitte sold 60,000 shares for roughly $3.0M and insiders sold 818,766 shares last quarter), while institutional investors own about 85% of the stock.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares traded up 8.5% during trading on Tuesday . The company traded as high as $61.61 and last traded at $58.55. 18,020,775 shares traded hands during trading, an increase of 77% from the average session volume of 10,152,888 shares. The stock had previously closed at $53.94.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup cut their target price on Oklo from $95.00 to $73.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 18th. Zacks Research raised Oklo from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 19th. Wedbush reissued an "outperform" rating on shares of Oklo in a research note on Friday, January 9th. Barclays lowered their target price on Oklo from $146.00 to $82.00 and set an "overweight" rating for the company in a report on Monday, February 23rd. Finally, Needham & Company LLC lowered their target price on Oklo from $135.00 to $73.00 and set a "buy" rating for the company in a report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Oklo presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.30.

Oklo Price Performance

The business has a fifty day simple moving average of $59.76 and a two-hundred day simple moving average of $89.44. The company has a market cap of $10.16 billion, a PE ratio of -81.32 and a beta of 0.93.

Oklo (NYSE:OKLO - Get Free Report) last posted its earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.10). During the same period in the prior year, the firm posted ($0.74) earnings per share. On average, equities research analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity

In related news, insider William Carroll Murphy Goodwin sold 2,820 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $56.69, for a total value of $159,865.80. Following the transaction, the insider directly owned 15,991 shares of the company's stock, valued at $906,529.79. This represents a 14.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $50.25, for a total value of $3,015,000.00. Following the sale, the chief executive officer directly owned 691,533 shares of the company's stock, valued at $34,749,533.25. This trade represents a 7.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 818,766 shares of company stock worth $50,855,915. Insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 worth $792,822,000 after buying an additional 2,968,981 shares during the period. Vanguard Group Inc. increased its holdings in Oklo by 33.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company's stock worth $1,294,179,000 after buying an additional 2,901,909 shares during the period. State Street Corp increased its holdings in Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company's stock worth $119,743,000 after buying an additional 1,752,946 shares during the period. Van ECK Associates Corp increased its holdings in Oklo by 61.0% in the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company's stock worth $387,914,000 after buying an additional 1,316,867 shares during the period. Finally, Norges Bank acquired a new position in Oklo in the 4th quarter worth approximately $73,786,000. 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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