Oklo Target of Unusually High Options Trading (NYSE:OKLO)

Oklo Inc. (NYSE:OKLO) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 118,556 call options on the company. This represents an increase of approximately 64% compared to the average volume of 72,222 call options.

Oklo Stock Performance

Shares of Oklo stock traded up $6.40 during trading hours on Tuesday, reaching $73.61. The company’s stock had a trading volume of 18,725,346 shares, compared to its average volume of 13,481,886. The company’s 50 day simple moving average is $62.05 and its 200 day simple moving average is $74.26. Oklo has a one year low of $44.88 and a one year high of $193.84. The stock has a market cap of $12.81 billion, a P/E ratio of -80.00 and a beta of 1.10.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the prior year, the company earned ($0.07) earnings per share. On average, sell-side analysts predict that Oklo will post -0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

OKLO has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their price target on Oklo from $175.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Bank of America began coverage on shares of Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Needham & Company LLC cut their price objective on shares of Oklo from $135.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Royal Bank Of Canada set a $80.00 price target on shares of Oklo in a research report on Friday, May 22nd. Finally, Citigroup increased their price objective on shares of Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Oklo currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.06.

Trending Headlines about Oklo

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: Market chatter is building around a summer catalyst that could make Oklo a “very different stock” after July, pointing to a possible momentum boost if the anticipated event unfolds. I’m Calling It: Oklo Will Be a Very Different Stock After July for 1 Reason
• Positive Sentiment: Options traders bought far more call options than usual, a sign of bullish speculation and expectations for continued share-price strength.
• Positive Sentiment: Investors remain focused on Oklo’s progress on fuel sourcing and licensing, including DOE talks on surplus plutonium utilization and recent NRC progress, which may be reducing execution risk. Oklo jumps 7.5% as investors focus on recent DOE fuel talks and regulatory progress

Insiders Place Their Bets

In other Oklo news, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the completion of the sale, the insider directly owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction on Friday, May 1st. The shares were sold at an average price of $70.50, for a total transaction of $9,870,000.00. Following the completion of the transaction, the chief executive officer owned 598,039 shares in the company, valued at approximately $42,161,749.50. This trade represents a 18.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 619,588 shares of company stock valued at $37,115,701 over the last quarter. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

A number of large investors have recently modified their holdings of OKLO. NBC Securities Inc. increased its holdings in shares of Oklo by 75.0% in the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the period. Costello Asset Management INC increased its holdings 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 acquiring an additional 200 shares during the period. GAMMA Investing LLC increased its holdings in shares of Oklo by 356.3% in the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after acquiring an additional 285 shares during the period. Gables Capital Management Inc. acquired a new stake in shares of Oklo in the 3rd quarter worth about $28,000. Finally, Nemes Rush Group LLC acquired a new stake in shares of Oklo in the 3rd quarter worth about $28,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.