Oklo (NYSE:OKLO) Trading 5.6% Higher – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares traded up 5.6% during mid-day trading on Monday . The company traded as high as $40.86 and last traded at $40.14. Approximately 11,252,011 shares traded hands during trading, a decline of 1% from the average daily volume of 11,341,022 shares. The stock had previously closed at $38.00.

Analyst Ratings Changes

Several brokerages have weighed in on OKLO. Piper Sandler started coverage on Oklo in a report on Tuesday, September 8th. They issued an “overweight” rating and a $55.00 target price for the company. Truist Financial decreased their price objective on Oklo from $55.00 to $51.00 and set a “hold” rating for the company in a report on Monday, August 10th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Oklo in a research note on Tuesday, May 26th. Citigroup dropped their target price on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating on the stock in a report on Monday, August 10th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Oklo in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.26.

Oklo Price Performance

The business has a 50-day moving average of $41.77 and a two-hundred day moving average of $53.53. The company has a market cap of $7.47 billion, a P/E ratio of -42.70 and a beta of 1.18.

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. The business’s quarterly revenue was up 11900.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.18) EPS. Equities analysts anticipate that Oklo Inc. will post -0.96 EPS for the current fiscal year.

Insider Transactions at Oklo

In other Oklo news, CFO Richard Bealmear sold 16,430 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $38.76, for a total value of $636,826.80. Following the completion of the sale, the chief financial officer directly owned 455,976 shares in the company, valued at $17,673,629.76. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 11,592 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $461,013.84. Following the completion of the sale, the insider owned 45,268 shares of the company’s stock, valued at approximately $1,800,308.36. This trade represents a 20.39% 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. Over the last 90 days, insiders have sold 362,030 shares of company stock worth $16,851,123. 12.70% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

Several hedge funds and other institutional investors have recently made changes to their positions in OKLO. Costello Asset Management INC boosted its position in shares of Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. SHP Wealth Management acquired a new position in Oklo during the 4th quarter valued at about $32,000. Ascentis Independent Advisors acquired a new stake in Oklo in the first quarter worth about $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Oklo in the fourth quarter worth about $43,000. Finally, Strategic Advocates LLC grew its stake in shares of Oklo by 70.9% during the fourth quarter. Strategic Advocates LLC now owns 663 shares of the company’s stock worth $47,000 after acquiring an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

About Oklo

Oklo Inc is an advanced nuclear technology company focused on developing and commercializing small-scale fission power plants. The company’s flagship product, the Aurora powerhouse, is designed to provide reliable, long-term electricity and heat using advanced nuclear reactor technology. Oklo is targeting applications such as industrial operations, data centers, defense facilities and other customers that require dependable, low-carbon energy.

Oklo is also developing fuel-recycling capabilities intended to use certain forms of nuclear fuel more efficiently and reduce the volume of nuclear waste requiring disposal.