Oklo (NYSE:OKLO) Trading 10.7% Higher – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) shot up 10.7% during mid-day trading on Wednesday . The stock traded as high as $95.10 and last traded at $94.4050. 16,066,247 shares changed hands during trading, an increase of 12% from the average session volume of 14,358,880 shares. The stock had previously closed at $85.27.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on OKLO shares. Zacks Research lowered shares of Oklo from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price objective on shares of Oklo in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Oklo in a report on Thursday, January 22nd. Bank of America upgraded Oklo from a “neutral” rating to a “buy” rating and lifted their target price for the company from $111.00 to $127.00 in a research note on Wednesday, January 21st. Finally, UBS Group reissued a “neutral” rating on shares of Oklo in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Oklo has a consensus rating of “Hold” and a consensus target price of $103.20.

Oklo Price Performance

The stock has a fifty day moving average price of $89.53 and a two-hundred day moving average price of $96.43. The company has a market cap of $14.75 billion, a P/E ratio of -174.82 and a beta of 0.76.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same period last year, the company earned ($0.08) earnings per share. As a group, analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity

In related news, CEO Jacob Dewitte sold 840,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $82.32, for a total value of $69,148,800.00. Following the completion of the transaction, the chief executive officer owned 1,580,000 shares in the company, valued at $130,065,600. This represents a 34.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Craig Bealmear sold 69,841 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $78.40, for a total transaction of $5,475,534.40. Following the transaction, the chief financial officer directly owned 202,072 shares in the company, valued at approximately $15,842,444.80. The trade was a 25.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,552,800 shares of company stock valued at $137,543,426. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Private Trust Co. NA bought a new position in Oklo during the 2nd quarter valued at $25,000. Fourth Dimension Wealth LLC lifted its holdings in shares of Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after buying an additional 250 shares during the period. GAMMA Investing LLC boosted its stake in Oklo by 356.3% during the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after buying an additional 285 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Oklo during the third quarter valued at about $27,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Oklo during the second quarter worth about $28,000. 85.03% of the stock is currently owned by 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.