Daiwa America Upgrades Oklo (NYSE:OKLO) to "Strong-Buy"

Key Points

• Daiwa America has upgraded Oklo (NYSE:OKLO) from a "hold" to a "strong-buy" rating, attracting attention from investors and analysts alike.
• Institutional investors are heavily involved, with Vanguard Group increasing its stake by 92.8% during the fourth quarter, indicating strong belief in the company's future.
• Oklo has shown significant stock performance fluctuations, with a fifty-two week low of $5.35 and a high of $77.55, reflecting its volatility in the market.

Oklo (NYSE:OKLO - Get Free Report) was upgraded by equities research analysts at Daiwa America from a "hold" rating to a "strong-buy" rating in a report issued on Sunday,Zacks.com reports.

Several other equities analysts have also recently commented on OKLO. BTIG Research began coverage on shares of Oklo in a research report on Friday, April 11th. They issued a "neutral" rating for the company. Daiwa Capital Markets raised shares of Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday. Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Wedbush set a $75.00 price objective on shares of Oklo and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, Citigroup lifted their price objective on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.33.

Oklo Stock Down 6.6%

OKLO stock traded down $5.09 during midday trading on Friday, hitting $71.50. The company's stock had a trading volume of 19,687,821 shares, compared to its average volume of 18,331,758. Oklo has a 52-week low of $5.35 and a 52-week high of $80.42. The firm has a market capitalization of $9.98 billion, a P/E ratio of -13.22 and a beta of 0.57. The firm has a 50-day simple moving average of $59.28 and a 200-day simple moving average of $40.99.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. On average, sell-side analysts expect that Oklo will post -8.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Stuart Klein sold 50,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $54.85, for a total value of $2,742,500.00. Following the completion of the sale, the director directly owned 200,000 shares of the company's stock, valued at $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the completion of the sale, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 600,000 shares of company stock valued at $35,066,500. 18.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently made changes to their positions in the business. Caldwell Sutter Capital Inc. purchased a new stake in shares of Oklo in the second quarter valued at about $25,000. Private Trust Co. NA purchased a new stake in shares of Oklo in the second quarter valued at about $25,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Oklo in the fourth quarter valued at about $27,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo in the fourth quarter valued at about $32,000. Finally, Covestor Ltd purchased a new stake in shares of Oklo in the fourth quarter valued at about $34,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Company Profile

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.