Shares of Oklo Inc. (NYSE:OKLO – Get Free Report) were down 5.8% during mid-day trading on Monday . The company traded as low as $56.80 and last traded at $58.6320. Approximately 14,446,182 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 11,760,270 shares. The stock had previously closed at $62.25.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on OKLO shares. Tigress Financial assumed coverage on shares of Oklo in a research report on Monday, April 27th. They set a “buy” rating and a $130.00 target price on the stock. Canaccord Genuity Group cut their price target on shares of Oklo from $175.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. HSBC started coverage on Oklo in a report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price objective on the stock. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Oklo in a report on Wednesday, May 13th. Finally, Bank of America upgraded Oklo from a “neutral” rating to a “buy” rating and raised their target price for the stock from $111.00 to $127.00 in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.33.
View Our Latest Stock Analysis on OKLO
Oklo Stock Performance
Oklo (NYSE:OKLO – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter last year, the business earned ($0.07) earnings per share. Equities research analysts expect that Oklo Inc. will post -0.77 EPS for the current fiscal year.
Insider Activity at Oklo
In related news, CFO Richard Craig Bealmear sold 72,090 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $60.00, for a total transaction of $4,325,400.00. Following the sale, the chief financial officer directly owned 386,008 shares in the company, valued at $23,160,480. This represents a 15.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 140,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $50.39, for a total value of $7,054,600.00. Following the sale, the chief executive officer directly owned 656,483 shares of the company’s stock, valued at $33,080,178.37. This represents a 17.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 809,040 shares of company stock worth $49,162,094 over the last three months. 18.90% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in OKLO. Gables Capital Management Inc. acquired a new position in Oklo during the 3rd quarter worth about $28,000. Nemes Rush Group LLC acquired a new stake in Oklo in the 3rd quarter valued at about $28,000. CI Investments Inc. increased its position in Oklo by 153.0% in the 3rd quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after acquiring an additional 179 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Oklo in the third quarter worth about $33,000. Finally, Comprehensive Financial Planning Inc. PA lifted its position in shares of Oklo by 950.0% during the third quarter. Comprehensive Financial Planning Inc. PA now owns 315 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares in the last quarter. 85.03% of the stock is 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.
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