Oklo Inc. (NYSE:OKLO – Get Free Report)’s stock price traded up 1% on Monday . The stock traded as high as $40.95 and last traded at $40.56. 6,184,676 shares changed hands during trading, a decline of 46% from the average session volume of 11,380,306 shares. The stock had previously closed at $40.14.
Analyst Ratings Changes
A number of research firms have recently commented on OKLO. Truist Financial cut their price target on shares of Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Bank of America began coverage on shares of Oklo in a research note on Friday, May 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Citigroup reduced their target price on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price target on shares of Oklo in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. began coverage on Oklo in a research note on Monday, May 11th. They issued a “neutral” rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.03.
View Our Latest Analysis on OKLO
Oklo Stock Performance
Oklo (NYSE:OKLO – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to the consensus estimate of $0.09 million. The firm’s revenue for the quarter was up 11900.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.18) earnings per share. As a group, analysts expect that Oklo Inc. will post -0.9 earnings per share for the current fiscal year.
Insider Buying and Selling at Oklo
In related news, CEO Jacob Dewitte sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the sale, the chief executive officer owned 511,533 shares of the company’s stock, valued at $27,008,942.40. This trade represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Carroll Murphy Goodwin sold 11,592 shares of Oklo stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $39.77, for a total value of $461,013.84. Following the completion of the transaction, the insider owned 45,268 shares in the company, valued at $1,800,308.36. This trade represents a 20.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 216,175 shares of company stock valued at $11,228,709. 12.70% of the stock is currently owned by corporate insiders.
Institutional Trading of Oklo
A number of institutional investors have recently modified their holdings of OKLO. California State Teachers Retirement System lifted its position in Oklo by 6,518.7% during the second quarter. California State Teachers Retirement System now owns 8,682,908 shares of the company’s stock valued at $454,377,000 after acquiring an additional 8,551,720 shares during the last quarter. Van ECK Associates Corp grew its holdings in Oklo by 13.9% in the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock worth $283,902,000 after purchasing an additional 481,288 shares during the last quarter. State Street Corp increased its position in shares of Oklo by 23.6% during the fourth quarter. State Street Corp now owns 3,060,220 shares of the company’s stock worth $219,601,000 after purchasing an additional 584,184 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Oklo by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock worth $201,671,000 after purchasing an additional 185,265 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Oklo by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company’s stock valued at $83,262,000 after purchasing an additional 90,213 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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