Oklo (NYSE:OKLO) Trading 3.1% Higher – Still a Buy?

Shares of Oklo Inc. (NYSE:OKLO) traded up 3.1% during mid-day trading on Thursday . The stock traded as high as $47.72 and last traded at $46.5490. Approximately 9,131,466 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 11,553,346 shares. The stock had previously closed at $45.13.

Analyst Ratings Changes

A number of brokerages have weighed in on OKLO. Truist Financial decreased their target price on shares of Oklo from $55.00 to $51.00 and set a “hold” rating for the company in a research note on Monday, August 10th. HSBC initiated coverage on Oklo in a research note on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oklo in a report on Friday, August 7th. Royal Bank Of Canada set a $80.00 price objective on Oklo in a research report on Friday, May 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $110.00 price objective on shares of Oklo in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Oklo presently has a consensus rating of “Moderate Buy” and an average target price of $85.03.

Oklo Stock Down 4.4%

The business’s fifty day moving average is $48.84 and its 200-day moving average is $59.00. The company has a market cap of $8.26 billion, a PE ratio of -47.22 and a beta of 1.17.

Oklo (NYSE:OKLO) last announced its earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. During the same period in the prior year, the company posted ($0.18) earnings per share. The company’s revenue was up 11900.0% compared to the same quarter last year. Analysts forecast that Oklo Inc. will post -0.9 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer owned 511,533 shares of the company’s stock, valued at $27,008,942.40. The trade was a 10.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the sale, the insider owned 36,175 shares of the company’s stock, valued at $2,099,597. This trade represents a 22.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 483,629 shares of company stock valued at $29,855,608 in the last 90 days. Company insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. lifted its position in shares of Oklo by 75.0% during the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after buying an additional 150 shares in the last quarter. Gilpin Wealth Management LLC purchased a new stake in Oklo in the 4th quarter worth approximately $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Oklo in the 3rd quarter worth approximately $45,000. Triumph Capital Management bought a new stake in Oklo during the 3rd quarter worth approximately $49,000. Finally, SHP Wealth Management bought a new stake in Oklo during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.