Shares of Oklo Inc. (NYSE: OKLO) experienced a significant surge, rising by 14.9% in midday trading on Monday, with the stock reaching a high of $90.85 before closing at $89.40. The trading volume was notably high, with over 19.7 million shares changing hands, marking a 32% increase compared to the average daily volume of approximately 14.9 million shares. The stock had closed at $77.80 prior to this spike.
Recent commentary from Wall Street analysts indicates a generally positive outlook for Oklo. UBS Group raised its price target for the company from $65.00 to $95.00, maintaining a “neutral” rating. In another note from Barclays, a price objective of $146.00 was established. William Blair reiterated an “outperform” rating, while Weiss Ratings expressed a more cautious stance with a “sell” rating. Overall, according to MarketBeat, analysts have mixed opinions on Oklo, with two Good Buy ratings, nine Buy ratings, seven Hold ratings, and three Sell ratings, culminating in a consensus rating of “Hold” and an average target price of $102.87.
Oklo has a current market capitalization of approximately $13.97 billion and a price-to-earnings (P/E) ratio of -165.57, signifying that the company is not yet profitable. The firm’s 50-day and 200-day moving averages stand at $97.38 and $91.90, respectively.
The latest earnings report from Oklo, released on November 12, showed a loss of $0.20 per share, falling short of analysts’ consensus expectations of a loss of $0.13 per share. In the same quarter last year, the company recorded a loss of $0.08 per share. Analysts project that Oklo will post an average annual earnings per share of -8.2 for the current fiscal year.
In insider trading news, CEO Jacob Dewitte sold 840,000 shares at an average price of $82.32, totaling approximately $69.15 million, which reflects a 34.71% reduction in his holdings after the transaction. CFO Richard Craig Bealmear also sold 69,841 shares at an average price of $78.40, reducing his ownership by 25.69%. Over the last three months, insiders have sold a total of around 932,800 shares, valued at nearly $76.76 million, while insiders collectively own 18.90% of the company.
Institutional investors are showing interest in Oklo as well, with several firms acquiring new stakes during the second quarter. This includes Caldwell Sutter Capital Inc. and Private Trust Co. NA, each investing around $25,000. Other institutions have also increased their holdings in Oklo, contributing to a total institutional ownership of about 85.03%.
Oklo Inc. is a California-based energy technology firm that specializes in the design and development of advanced nuclear microreactors. With a focus on small modular reactor technology, Oklo aims to harness fast-neutron fission and liquid-metal cooling for carbon-free power generation. Its flagship product, the Aurora microreactor, is designed to produce 1.5 megawatts of electric power.
As the company progresses toward its goal of launching compact, factory-built reactors within a decade, the market’s reaction, coupled with institutional interest, suggests a cautiously optimistic future for Oklo as it seeks to innovate in the energy sector.