Oklo (NYSE:OKLO) Trading Up 11.2% - Should You Buy?

Key Points

• Oklo shares jumped 11.2% to $39.625, though trading volume was 48% below the average. The company has a market capitalization of approximately $7.4 billion and remains below its 50-day and 200-day moving averages.
• Analysts have a “Moderate Buy” consensus on Oklo, with an average price target of $83.26; ratings include one Strong Buy, 12 Buys, nine Holds and one Sell.
• Oklo reported a quarterly loss of $0.28 per share, missing the $0.16 consensus estimate, despite revenue of $1.21 million rising sharply year over year. Insiders sold $16.85 million of stock during the last quarter, while institutional investors own 85.03% of shares.

Oklo Inc. (NYSE:OKLO - Get Free Report) shot up 11.2% on Thursday . The stock traded as high as $38.84 and last traded at $39.6250. 5,817,825 shares changed hands during trading, a decline of 48% from the average daily volume of 11,270,051 shares. The stock had previously closed at $35.62.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of analyst reports. Wedbush restated an "outperform" rating and issued a $110.00 price target on shares of Oklo in a research report on Tuesday, May 26th. Royal Bank Of Canada set a $80.00 target price on shares of Oklo in a research note on Friday, May 22nd. Citigroup lowered their target price on shares of Oklo from $76.00 to $57.50 and set a "neutral" rating for the company in a report on Monday, August 10th. Bank of America started coverage on shares of Oklo in a research note on Friday, May 22nd. They set a "buy" rating and a $80.00 price target for the company. Finally, Guggenheim assumed coverage on shares of Oklo in a report on Thursday, June 25th. They set a "neutral" rating on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $83.26.

Oklo Stock Up 11.7%

The stock has a market cap of $7.40 billion, a P/E ratio of -42.45 and a beta of 1.18. The company's 50 day moving average price is $42.18 and its two-hundred day moving average price is $53.88.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results 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 business had revenue of $1.21 million during the quarter, compared to analyst estimates of $0.09 million. During the same period in the previous year, the business posted ($0.18) earnings per share. The firm's quarterly revenue was up 11900.0% compared to the same quarter last year. As a group, equities research analysts forecast that Oklo Inc. will post -0.96 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Oklo

A number of large investors have recently bought and sold shares of the business. MCF Advisors LLC boosted its position in Oklo by 201.0% during the 2nd quarter. MCF Advisors LLC now owns 1,559 shares of the company's stock valued at $82,000 after acquiring an additional 1,041 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Oklo by 74.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 12,731 shares of the company's stock worth $666,000 after purchasing an additional 5,423 shares during the last quarter. NewEdge Advisors LLC boosted its position in Oklo by 15.2% during the second quarter. NewEdge Advisors LLC now owns 41,362 shares of the company's stock valued at $2,164,000 after purchasing an additional 5,468 shares in the last quarter. IFP Advisors Inc boosted its position in Oklo by 6.6% during the second quarter. IFP Advisors Inc now owns 7,143 shares of the company's stock valued at $374,000 after purchasing an additional 441 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Oklo by 21.1% in the second quarter. Allworth Financial LP now owns 3,815 shares of the company's stock valued at $200,000 after purchasing an additional 666 shares during the last quarter. Institutional investors own 85.03% of the company's stock.

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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