Oklo (NYSE:OKLO) Stock Price Up 5.8% – Should You Buy?

Oklo Inc. (NYSE:OKLO) traded up 5.8% on Tuesday . The stock traded as high as $79.18 and last traded at $77.8670. 10,571,962 shares changed hands during trading, a decline of 24% from the average session volume of 13,981,778 shares. The stock had previously closed at $73.62.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKLO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 price objective on shares of Oklo in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Texas Capital raised shares of Oklo to a “strong-buy” rating in a research note on Tuesday, January 27th. Wedbush reiterated an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. Finally, Zacks Research lowered shares of Oklo from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.20.

Oklo Trading Up 5.8%

The company has a 50-day simple moving average of $88.83 and a 200 day simple moving average of $96.98. The company has a market cap of $12.17 billion, a P/E ratio of -144.20 and a beta of 0.76.

Oklo (NYSE:OKLO) last issued its earnings results 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 quarter in the previous year, the firm earned ($0.08) EPS. On average, equities analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Carroll Murphy Goodwin sold 11,936 shares of Oklo stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $101.84, for a total value of $1,215,562.24. Following the transaction, the insider directly owned 8,750 shares in the company, valued at approximately $891,100. This trade represents a 57.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Craig Bealmear sold 69,841 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total value of $5,475,534.40. Following the sale, the chief financial officer owned 202,072 shares of the company’s stock, valued at $15,842,444.80. This trade represents a 25.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,552,800 shares of company stock worth $137,543,426 in the last three months. Corporate insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Large investors have recently added to or reduced their stakes in the company. Stiles Financial Services Inc raised its stake in shares of Oklo by 91.3% during the 4th quarter. Stiles Financial Services Inc now owns 9,047 shares of the company’s stock worth $649,000 after acquiring an additional 4,317 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Oklo by 44.2% during the fourth quarter. International Assets Investment Management LLC now owns 9,893 shares of the company’s stock worth $710,000 after purchasing an additional 3,033 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Oklo during the fourth quarter worth $564,000. Encompass More Asset Management acquired a new stake in shares of Oklo in the 4th quarter worth $3,107,000. Finally, Swedbank AB acquired a new stake in shares of Oklo in the 4th quarter worth $735,000. 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.