Oklo (NYSE:OKLO) Stock Price Up 5.6% - Here's What Happened

Key Points

• Oklo shares rose 5.6% to approximately $40.14 during Monday trading, with a market capitalization of $7.47 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $83.26, despite several recent target-price reductions.
• Oklo’s latest quarter showed revenue of $1.21 million, up 11,900% year over year, but its adjusted loss of $0.28 per share missed estimates; insiders have also sold about $16.85 million of stock over the past quarter.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price shot up 5.6% during trading on Monday . The company traded as high as $40.86 and last traded at $40.14. Approximately 11,252,011 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 11,341,022 shares. The stock had previously closed at $38.00.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays lowered their target price on Oklo from $82.00 to $76.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Canaccord Genuity Group lowered their price objective on Oklo from $125.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Guggenheim started coverage on Oklo in a research note on Thursday, June 25th. They set a "neutral" rating for the company. HC Wainwright reissued a "buy" rating and issued a $90.00 target price on shares of Oklo in a report on Monday, August 10th. Finally, Truist Financial decreased their target price on shares of Oklo from $55.00 to $51.00 and set a "hold" rating on the stock in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $83.26.

Oklo Stock Up 5.6%

The business has a 50 day moving average price of $41.77 and a two-hundred day moving average price of $53.53. The stock has a market cap of $7.47 billion, a P/E ratio of -42.70 and a beta of 1.18.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The company's quarterly revenue was up 11900.0% compared to the same quarter last year. On average, research analysts forecast that Oklo Inc. will post -0.96 earnings per share for the current year.

Insider Activity

In related news, CFO Richard Bealmear sold 16,430 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $38.76, for a total transaction of $636,826.80. Following the completion of the transaction, the chief financial officer directly owned 455,976 shares of the company's stock, valued at approximately $17,673,629.76. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John M. Jansen sold 6,354 shares of Oklo stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $36.67, for a total value of $233,001.18. Following the completion of the sale, the director directly owned 6,000 shares in the company, valued at $220,020. This trade represents a 51.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 362,030 shares of company stock valued at $16,851,123 in the last quarter. Company insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its holdings in Oklo by 344.6% during the 1st quarter. Sei Investments Co. now owns 50,096 shares of the company's stock valued at $2,484,000 after buying an additional 38,829 shares during the period. Bank of America Corp DE boosted its stake in Oklo by 55.3% during the first quarter. Bank of America Corp DE now owns 620,281 shares of the company's stock worth $30,760,000 after buying an additional 220,976 shares during the period. Handelsbanken Fonder AB purchased a new position in Oklo during the fourth quarter worth $2,555,000. Intech Investment Management LLC increased its position in Oklo by 82.8% during the fourth quarter. Intech Investment Management LLC now owns 46,717 shares of the company's stock valued at $3,352,000 after acquiring an additional 21,157 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Oklo by 1,184.4% during the fourth quarter. Hsbc Holdings PLC now owns 112,372 shares of the company's stock valued at $8,063,000 after acquiring an additional 103,623 shares during the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

Oklo Inc is an advanced nuclear technology company focused on developing and commercializing small-scale fission power plants. The company's flagship product, the Aurora powerhouse, is designed to provide reliable, long-term electricity and heat using advanced nuclear reactor technology. Oklo is targeting applications such as industrial operations, data centers, defense facilities and other customers that require dependable, low-carbon energy.

Oklo is also developing fuel-recycling capabilities intended to use certain forms of nuclear fuel more efficiently and reduce the volume of nuclear waste requiring disposal.

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