Oklo (NYSE:OKLO) Shares Gap Up – Time to Buy?

Oklo Inc. (NYSE:OKLO) gapped up before the market opened on Thursday . The stock had previously closed at $72.41, but opened at $77.73. Oklo shares last traded at $76.2990, with a volume of 10,216,454 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OKLO. Bank of America raised Oklo from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $111.00 to $127.00 in a report on Wednesday, January 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Wedbush restated an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. UBS Group cut their price objective on Oklo from $95.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Finally, Barclays cut their price target on Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.03.

Oklo Trading Up 6.7%

The business’s 50-day simple moving average is $59.08 and its two-hundred day simple moving average is $87.04. The company has a market capitalization of $13.41 billion, a PE ratio of -107.29 and a beta of 0.93.

Oklo (NYSE:OKLO) last issued its earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). During the same quarter last year, the business posted ($0.74) EPS. On average, analysts forecast that Oklo Inc. will post -0.75 EPS for the current year.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $50.25, for a total value of $3,015,000.00. Following the sale, the chief executive officer owned 691,533 shares in the company, valued at approximately $34,749,533.25. This trade represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Carroll Murphy Goodwin sold 2,820 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $56.69, for a total transaction of $159,865.80. Following the completion of the sale, the insider owned 15,991 shares in the company, valued at $906,529.79. The trade was a 14.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 818,766 shares of company stock worth $50,855,915 over the last quarter. 18.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Oklo by 162.6% during the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after purchasing an additional 57,497 shares during the period. AQR Capital Management LLC bought a new position in shares of Oklo during the 1st quarter valued at $519,000. Millennium Management LLC raised its holdings in shares of Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after purchasing an additional 570,532 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after purchasing an additional 9,772 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Oklo by 90.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock worth $2,439,000 after acquiring an additional 53,703 shares during the period. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Oklo

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.