Oklo (NYSE:OKLO) Trading Up 1% - Time to Buy?

Key Points

• Oklo shares rose 1% to $40.56, though trading volume was below average and the stock remains below its 50-day and 200-day moving averages.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $85.03, despite recent target cuts from Canaccord Genuity, Truist Financial, and UBS.
• Oklo reported a quarterly loss of $0.28 per share, missing estimates, while revenue reached $1.21 million and grew sharply year over year; insiders sold more than $11.2 million of stock in the past quarter.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price rose 1% during trading on Monday . The stock traded as high as $40.95 and last traded at $40.56. Approximately 6,184,676 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 11,380,306 shares. The stock had previously closed at $40.14.

Wall Street Analyst Weigh In

OKLO has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their price target on Oklo from $125.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Truist Financial lowered their target price on shares of Oklo from $55.00 to $51.00 and set a "hold" rating on the stock in a report on Monday, August 10th. Royal Bank Of Canada set a $80.00 target price on shares of Oklo in a research report on Friday, May 22nd. UBS Group reduced their price target on shares of Oklo from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday, June 11th. Finally, Bank of America initiated coverage on shares of Oklo in a research note on Friday, May 22nd. They issued a "buy" rating and a $80.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $85.03.

Oklo Stock Up 1.0%

The stock has a market cap of $7.54 billion, a P/E ratio of -43.15 and a beta of 1.17. The company's 50 day moving average price is $45.57 and its two-hundred day moving average price is $56.35.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to the consensus estimate of $0.09 million. During the same period in the previous year, the business posted ($0.18) earnings per share. Oklo's revenue for the quarter was up 11900.0% compared to the same quarter last year. As a group, equities research analysts forecast that Oklo Inc. will post -0.9 earnings per share for the current year.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the transaction, the chief executive officer directly owned 511,533 shares in the company, valued at approximately $27,008,942.40. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Vivek Narayanadas sold 3,264 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $129,809.28. Following the transaction, the general counsel owned 7,822 shares in the company, valued at approximately $311,080.94. This represents a 29.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 216,175 shares of company stock valued at $11,228,709. Company insiders own 12.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Oklo by 6.6% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,800 shares of the company's stock worth $313,000 after purchasing an additional 174 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Oklo by 1.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company's stock valued at $928,000 after purchasing an additional 182 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Oklo by 0.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 70,433 shares of the company's stock worth $3,493,000 after purchasing an additional 183 shares during the period. Triton Wealth Management PLLC increased its position in Oklo by 1.3% during the 1st quarter. Triton Wealth Management PLLC now owns 14,760 shares of the company's stock worth $734,000 after purchasing an additional 191 shares during the period. Finally, Kestra Advisory Services LLC raised its stake in shares of Oklo by 0.5% during the 4th quarter. Kestra Advisory Services LLC now owns 41,689 shares of the company's stock worth $2,992,000 after buying an additional 197 shares in the last quarter. 85.03% of the stock is owned by institutional investors.

About Oklo

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source