Oklo (NYSE:OKLO) Trading 11.5% Higher – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OKLO shares. HSBC started coverage on Oklo in a report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price objective for the company. Truist Financial initiated coverage on Oklo in a research note on Monday, July 13th. They set a “hold” rating and a $55.00 target price on the stock. Wolfe Research started coverage on Oklo in a report on Tuesday, May 19th. They set a “peer perform” rating for the company. Wedbush restated an “outperform” rating and issued a $110.00 price target on shares of Oklo in a research note on Tuesday, May 26th. Finally, Barclays decreased their price objective on Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.00.

Oklo Stock Performance

The stock has a market cap of $6.77 billion, a P/E ratio of -46.35 and a beta of 1.14. The stock’s fifty day simple moving average is $53.26 and its 200-day simple moving average is $62.42.

Oklo (NYSE:OKLO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter last year, the business posted ($0.07) EPS. As a group, equities research analysts forecast that Oklo Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the sale, the chief executive officer owned 511,533 shares of the company’s stock, valued at $27,008,942.40. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard Craig Bealmear sold 73,081 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the transaction, the chief financial officer owned 397,642 shares in the company, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 483,629 shares of company stock valued at $29,855,608 over the last 90 days. 12.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OKLO. NBC Securities Inc. lifted its position in Oklo by 75.0% during the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the period. Costello Asset Management INC increased its holdings in Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after buying an additional 200 shares during the period. GAMMA Investing LLC increased its holdings in Oklo by 356.2% in the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after buying an additional 285 shares during the period. Gilpin Wealth Management LLC acquired a new position in shares of Oklo in the 4th quarter valued at approximately $29,000. Finally, SHP Wealth Management acquired a new position in shares of Oklo in the 4th quarter valued at approximately $32,000. 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.