Oklo Inc. (NYSE:OKLO – Get Free Report)’s stock price was up 5.4% on Monday . The stock traded as high as $61.98 and last traded at $60.57. Approximately 9,513,429 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 12,181,552 shares. The stock had previously closed at $57.49.
Analysts Set New Price Targets
Several analysts recently weighed in on OKLO shares. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Barclays reduced their price objective on Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, February 23rd. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Oklo in a research note on Tuesday, May 26th. HSBC started coverage on Oklo in a research note on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price objective on the stock. Finally, B. Riley Financial reduced their price objective on Oklo from $129.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and a consensus price target of $82.78.
Read Our Latest Analysis on Oklo
Oklo Stock Up 5.4%
Oklo (NYSE:OKLO – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period in the prior year, the company earned ($0.07) earnings per share. Sell-side analysts forecast that Oklo Inc. will post -0.78 EPS for the current fiscal year.
Insider Buying and Selling at Oklo
In other Oklo news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the transaction, the chief financial officer directly owned 397,642 shares in the company, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer 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 SEC filing for this sale provides additional information. Over the last three months, insiders sold 699,971 shares of company stock worth $44,221,357. 18.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Oklo
Several large investors have recently bought and sold shares of OKLO. Royal Bank of Canada raised its position in Oklo by 162.6% in the first 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 last quarter. AQR Capital Management LLC bought a new position in Oklo in the first quarter valued at about $519,000. Millennium Management LLC raised its position in Oklo by 4,974.1% in the first 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 during the last quarter. NewEdge Advisors LLC raised its position in Oklo by 165.6% in the first 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 during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Oklo by 90.9% during the first 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 last quarter. 85.03% of the stock is currently owned by institutional investors.
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.
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