Oklo (NYSE:OKLO) Stock Price Up 10.7% After Analyst Upgrade

Oklo Inc. (NYSE:OKLO)’s stock price traded up 10.7% on Wednesday after Texas Capital upgraded the stock to a strong-buy rating. The stock traded as high as $95.10 and last traded at $94.4050. 16,066,247 shares were traded during mid-day trading, an increase of 12% from the average session volume of 14,358,880 shares. The stock had previously closed at $85.27.

Several other equities research analysts have also recently weighed in on OKLO. Canaccord Genuity Group assumed coverage on shares of Oklo in a research report on Thursday, October 9th. They issued a “buy” rating and a $175.00 price target on the stock. UBS Group restated a “neutral” rating on shares of Oklo in a research report on Monday, January 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $106.00 price objective on shares of Oklo in a research note on Friday, January 9th. Zacks Research lowered Oklo from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, B. Riley boosted their target price on Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.20.

Insider Activity

In related news, CEO Jacob Dewitte sold 840,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the sale, the chief executive officer owned 1,580,000 shares of the company’s stock, valued at $130,065,600. This trade represents a 34.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Craig Bealmear sold 69,841 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $78.40, for a total transaction of $5,475,534.40. Following the completion of the sale, the chief financial officer owned 202,072 shares in the company, valued at $15,842,444.80. This represents a 25.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,552,800 shares of company stock worth $137,543,426. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. Royal Bank of Canada raised its stake in shares of Oklo by 162.6% during the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after buying an additional 57,497 shares during the last quarter. AQR Capital Management LLC purchased a new position in Oklo during the first quarter valued at approximately $519,000. Millennium Management LLC raised its position in Oklo by 4,974.1% during the first quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after acquiring an additional 570,532 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Oklo by 165.6% in the first quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after acquiring an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Oklo by 90.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock worth $2,439,000 after purchasing an additional 53,703 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Stock Performance

The firm has a market cap of $12.42 billion, a price-to-earnings ratio of -147.22 and a beta of 0.76. The business’s 50 day moving average price is $89.16 and its 200 day moving average price is $96.47.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Sell-side analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

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.