Oklo (NYSE:OKLO) Shares Climb 22.6% on Earnings Beat

Oklo Inc. (NYSE:OKLO) shares traded up 22.6% on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $24.03 and last traded at $23.5470. Approximately 24,808,669 shares traded hands during trading, an increase of 123% from the average session volume of 11,102,118 shares. The stock had previously closed at $19.20.

The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. The business had revenue of $1.86 million during the quarter, compared to the consensus estimate of $1.03 million. During the same period last year, the firm earned ($0.20) EPS.

More Oklo News

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: Oklo reported a Q3 loss of $0.22 per share, narrower than analysts’ average estimate of $0.27, and revenue of $1.86 million, above the $1.03 million consensus cited in reports. The better-than-expected results helped lift the shares. MarketWatch earnings report
• Positive Sentiment: The company agreed to work with U.S. Forged Rings on planned domestic manufacturing capacity for large reactor components. The arrangement is intended to help address potential supply bottlenecks for future Aurora powerhouse deployments. Manufacturing partnership announcement
• Positive Sentiment: A broader rebound in nuclear-energy stocks also supported the move, suggesting some of the prior sector-wide pressure eased. Nuclear stocks rebound
• Negative Sentiment: Oklo still has very limited revenue and reported a quarterly loss. Its reported $3.13 billion in cash and investments offers funding for development, but much of that balance came from stock sales, highlighting reliance on capital markets and potential dilution as it pursues costly projects. Quarterly results and cash position

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OKLO shares. Barclays lowered their target price on shares of Oklo from $76.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 20th. B. Riley Financial cut their price target on shares of Oklo from $92.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oklo in a report on Wednesday. UBS Group lowered their price objective on Oklo from $55.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, September 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Oklo in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.72.

Insider Buying and Selling

In other news, CFO Richard Bealmear sold 16,727 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $25.55, for a total value of $427,374.85. Following the sale, the chief financial officer owned 467,261 shares in the company, valued at approximately $11,938,518.55. The trade was a 3.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexandra Renner sold 1,068 shares of the company’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $26.71, for a total transaction of $28,526.28. Following the completion of the sale, the insider directly owned 593,750 shares in the company, valued at approximately $15,859,062.50. The trade was a 0.18% decrease in their position. 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 have sold 350,203 shares of company stock worth $12,424,945 in the last three months. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OKLO. Russell Investments Group Ltd. boosted its holdings in shares of Oklo by 48.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 371,761 shares of the company’s stock worth $13,763,000 after acquiring an additional 121,438 shares in the last quarter. Nikulski Financial Inc. increased its holdings in Oklo by 45.5% during the 3rd quarter. Nikulski Financial Inc. now owns 16,403 shares of the company’s stock valued at $607,000 after purchasing an additional 5,133 shares in the last quarter. Fifth Third Bancorp increased its holdings in Oklo by 304.1% during the 3rd quarter. Fifth Third Bancorp now owns 16,698 shares of the company’s stock valued at $618,000 after purchasing an additional 12,566 shares in the last quarter. Jacobi Capital Management LLC acquired a new stake in Oklo during the 3rd quarter valued at $27,000. Finally, United Capital Management of KS Inc. bought a new position in Oklo in the 3rd quarter valued at $9,406,000. Institutional investors own 85.03% of the company’s stock.

Oklo Stock Performance

The company has a 50-day simple moving average of $33.94 and a 200-day simple moving average of $52.69. The stock has a market cap of $4.38 billion, a P/E ratio of -25.05 and a beta of 1.31.

About Oklo

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.