Oklo (NYSE:OKLO) Trading Up 1.1% – Time to Buy?

Oklo Inc. (NYSE:OKLO) shares were up 1.1% during trading on Tuesday . The stock traded as high as $47.42 and last traded at $46.3070. Approximately 6,488,283 shares were traded during trading, a decline of 45% from the average session volume of 11,833,997 shares. The stock had previously closed at $45.81.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Truist Financial initiated coverage on Oklo in a report on Monday. They issued a “hold” rating and a $55.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $110.00 target price on shares of Oklo in a research report on Tuesday, May 26th. Craig Hallum restated a “hold” rating on shares of Oklo in a research report on Wednesday, March 18th. Finally, Guggenheim initiated coverage on Oklo in a research note on Thursday, June 25th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Oklo currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Oklo Stock Down 6.4%

The stock has a market cap of $7.44 billion, a price-to-earnings ratio of -50.64 and a beta of 1.14. The company has a 50 day simple moving average of $59.43 and a 200 day simple moving average of $65.91.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter in the prior year, the business earned ($0.07) EPS. As a group, analysts predict that Oklo Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Activity at Oklo

In related news, insider William Carroll Murphy Goodwin sold 10,548 shares of the business’s stock in a transaction 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 transaction, the insider owned 36,175 shares in the company, valued at $2,099,597. The trade was a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total value of $3,168,000.00. Following the completion of the transaction, the chief executive officer directly owned 511,533 shares in the company, valued at $27,008,942.40. This represents a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 683,629 shares of company stock worth $43,902,208 over the last three months. Company insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its holdings in shares of Oklo by 43.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 52,900 shares of the company’s stock worth $2,768,000 after buying an additional 16,100 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Oklo by 12.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 36,609 shares of the company’s stock valued at $1,916,000 after acquiring an additional 4,187 shares during the period. Gradient Investments LLC boosted its stake in Oklo by 38.6% during the second quarter. Gradient Investments LLC now owns 34,335 shares of the company’s stock worth $1,797,000 after acquiring an additional 9,570 shares in the last quarter. Evanson Financial LLC acquired a new stake in Oklo in the second quarter worth $232,000. Finally, Western Wealth Management LLC acquired a new stake in Oklo in the first quarter worth $130,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.