Oklo (NYSE:OKLO) Shares Up 6.4% – Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO) shot up 6.4% during mid-day trading on Wednesday . The company traded as high as $58.60 and last traded at $59.4330. 1,803,623 shares traded hands during trading, a decline of 85% from the average session volume of 11,646,066 shares. The stock had previously closed at $55.88.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Tigress Financial assumed coverage on Oklo in a report on Monday, April 27th. They set a “buy” rating and a $130.00 price objective on the stock. Craig Hallum reaffirmed a “hold” rating on shares of Oklo in a report on Wednesday, March 18th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Oklo in a report on Wednesday, March 18th. JPMorgan Chase & Co. assumed coverage on Oklo in a report on Monday, May 11th. They set a “neutral” rating and a $83.00 price objective on the stock. Finally, Canaccord Genuity Group reduced their price objective on Oklo from $175.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.33.

Oklo Price Performance

The business has a 50 day moving average of $60.80 and a 200 day moving average of $77.54. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of -72.31 and a beta of 1.16.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same period last year, the business posted ($0.07) EPS. As a group, equities analysts predict that Oklo Inc. will post -0.77 EPS for the current year.

Insider Transactions at Oklo

In other news, CFO Richard Craig Bealmear sold 16,342 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $51.08, for a total transaction of $834,749.36. Following the completion of the sale, the chief financial officer owned 386,008 shares of the company’s stock, valued at $19,717,288.64. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Carroll Murphy Goodwin sold 2,820 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $56.69, for a total transaction of $159,865.80. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 809,040 shares of company stock valued at $49,162,094 over the last quarter. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC bought a new stake in Oklo in the 1st quarter valued at approximately $130,000. Silicon Valley Capital Partners lifted its stake in Oklo by 155.8% in the 1st quarter. Silicon Valley Capital Partners now owns 1,862 shares of the company’s stock valued at $92,000 after acquiring an additional 1,134 shares in the last quarter. Bank of America Corp DE boosted its holdings 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 purchasing an additional 220,976 shares during the last quarter. MSA Advisors LLC acquired a new position in Oklo during the first quarter worth $227,000. Finally, Amundi boosted its holdings in Oklo by 59.0% during the first quarter. Amundi now owns 164,824 shares of the company’s stock worth $8,174,000 after purchasing an additional 61,161 shares during the last quarter. Institutional investors 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.