Oklo (NYSE:OKLO) Stock Price Up 3.9% – What’s Next?

Oklo Inc. (NYSE:OKLO) was up 3.9% during trading on Wednesday . The stock traded as high as $43.02 and last traded at $42.9630. 7,629,097 shares changed hands during trading, a decline of 33% from the average daily volume of 11,447,869 shares. The stock had previously closed at $41.36.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OKLO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $122.00 target price on shares of Oklo in a research note on Wednesday, May 13th. UBS Group dropped their price target on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. HSBC began coverage on shares of Oklo in a research note on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price objective for the company. Truist Financial lowered their target price on shares of Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. assumed coverage on Oklo in a research report on Monday, May 11th. They set a “neutral” rating and a $83.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.03.

Oklo Stock Up 3.9%

The company has a 50-day moving average price of $48.24 and a two-hundred day moving average price of $58.17. The stock has a market capitalization of $7.99 billion, a P/E ratio of -45.71 and a beta of 1.17.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The firm had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter last year, the firm posted ($0.18) earnings per share. The company’s quarterly revenue was up 11900.0% on a year-over-year basis. On average, sell-side analysts expect that Oklo Inc. will post -0.9 earnings per share for the current year.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Craig Bealmear sold 73,081 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the transaction, the chief financial officer directly owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. 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 sold a total of 473,081 shares of company stock worth $29,243,402 over the last quarter. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. Vanguard Group Inc. increased its stake in Oklo by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock worth $835,107,000 after acquiring an additional 44,036 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Oklo by 13.9% in the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock worth $283,902,000 after purchasing an additional 481,288 shares during the last quarter. State Street Corp increased its position in shares of Oklo by 23.6% in the fourth quarter. State Street Corp now owns 3,060,220 shares of the company’s stock worth $219,601,000 after purchasing an additional 584,184 shares during the last quarter. Geode Capital Management LLC raised its stake in Oklo by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock valued at $201,671,000 after purchasing an additional 185,265 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Oklo by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company’s stock valued at $83,262,000 after purchasing an additional 90,213 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.