Oklo (NYSE:OKLO) Stock Price Up 7.2% – What’s Next?

by · The Cerbat Gem

Shares of Oklo Inc. (NYSE:OKLOGet Free Report) rose 7.2% on Monday . The stock traded as high as $53.96 and last traded at $53.8480. Approximately 8,285,734 shares changed hands during trading, a decline of 17% from the average daily volume of 10,035,993 shares. The stock had previously closed at $50.25.

Wall Street Analyst Weigh In

OKLO has been the topic of several recent analyst reports. UBS Group reduced their target price on Oklo from $95.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Citigroup reduced their target price on Oklo from $95.00 to $73.50 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. B. Riley Financial reduced their target price on Oklo from $129.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $122.00 target price on shares of Oklo in a report on Wednesday, March 18th. Finally, Wedbush reiterated an “outperform” rating on shares of Oklo in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.30.

Read Our Latest Stock Report on OKLO

Oklo Stock Up 7.2%

The company has a market capitalization of $9.35 billion, a P/E ratio of -74.79 and a beta of 0.93. The business has a fifty day moving average price of $60.16 and a 200 day moving average price of $89.90.

Oklo (NYSE:OKLOGet Free Report) last issued its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). During the same quarter in the prior year, the company posted ($0.74) earnings per share. As a group, equities analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity at Oklo

In related news, CFO Richard Craig Bealmear sold 16,342 shares of Oklo stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $51.08, for a total value of $834,749.36. Following the sale, the chief financial officer owned 386,008 shares of the company’s stock, valued at approximately $19,717,288.64. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Carroll Murphy Goodwin sold 2,820 shares of Oklo stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $56.69, for a total value of $159,865.80. Following the completion of the sale, the insider directly owned 15,991 shares in the company, valued at approximately $906,529.79. This represents a 14.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 818,766 shares of company stock valued at $50,855,915. 18.90% of the stock is owned by insiders.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Armstrong Advisory Group Inc. acquired a new stake in shares of Oklo in the third quarter valued at about $27,000. Gables Capital Management Inc. acquired a new stake in shares of Oklo in the third quarter valued at about $28,000. Nemes Rush Group LLC acquired a new stake in shares of Oklo in the third quarter valued at about $28,000. CI Investments Inc. increased its position in shares of Oklo by 153.0% in the third quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after acquiring an additional 179 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Oklo in the third quarter valued at about $33,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Oklo

(Get Free Report)

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.

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