Oklo (NYSE:OKLO) Stock Price Up 11.5% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price shot up 11.5% during mid-day trading on Thursday . The stock traded as high as $41.57 and last traded at $41.09. 9,955,958 shares traded hands during trading, a decline of 14% from the average session volume of 11,608,658 shares. The stock had previously closed at $36.84.

Analyst Ratings Changes

A number of equities analysts have commented on OKLO shares. UBS Group cut their price objective 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. Guggenheim initiated coverage on Oklo in a research note on Thursday, June 25th. They set a “neutral” rating for the company. Barclays dropped 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. Citigroup boosted their price target on Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $122.00 price objective on shares of Oklo in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Oklo presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Oklo Trading Up 11.5%

The stock has a market capitalization of $7.15 billion, a P/E ratio of -48.92 and a beta of 1.14. The stock’s 50 day simple moving average is $54.28 and its 200 day simple moving average is $63.04.

Oklo (NYSE:OKLO) last released its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same quarter in the prior year, the company posted ($0.07) earnings per share. On average, sell-side analysts expect that Oklo Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.29, for a total value of $9,560,600.00. Following the completion of the sale, the chief executive officer directly owned 538,039 shares of the company’s stock, valued at $36,742,683.31. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the sale, the insider owned 36,175 shares in the company, valued at $2,099,597. The trade was a 22.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 683,629 shares of company stock worth $43,902,208. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Oklo

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

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.