Oklo Inc. (NYSE:OKLO) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $58.50.

Several brokerages have recently weighed in on OKLO. Citigroup reissued a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. Craig Hallum lowered shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a research report on Monday, June 23rd. CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and increased their price objective for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. HC Wainwright began coverage on shares of Oklo in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. Finally, William Blair began coverage on shares of Oklo in a research note on Wednesday, May 28th. They issued an "outperform" rating on the stock.

Insider Transactions at Oklo

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total value of $16,560,000.00. Following the transaction, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the completion of the transaction, the director directly owned 200,000 shares in the company, valued at approximately $10,970,000. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 600,000 shares of company stock worth $35,066,500 over the last quarter. Corporate insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

Several hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in Oklo by 35.4% in the 2nd quarter. Exchange Traded Concepts LLC now owns 198,805 shares of the company's stock valued at $11,131,000 after buying an additional 51,970 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Oklo by 126.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,569 shares of the company's stock valued at $1,427,000 after buying an additional 14,831 shares during the period. High Net Worth Advisory Group LLC acquired a new stake in shares of Oklo in the 2nd quarter valued at approximately $218,000. Sunpointe LLC acquired a new stake in shares of Oklo in the 2nd quarter valued at approximately $252,000. Finally, Westbourne Investments Inc. acquired a new stake in shares of Oklo in the 2nd quarter valued at approximately $347,000. 85.03% of the stock is owned by institutional investors.

Oklo Price Performance

NYSE OKLO traded up $1.65 on Monday, hitting $55.58. 11,371,701 shares of the stock were exchanged, compared to its average volume of 14,627,928. The business's fifty day moving average is $48.65 and its 200 day moving average is $36.50. Oklo has a 52 week low of $5.35 and a 52 week high of $73.55. The company has a market capitalization of $7.76 billion, a PE ratio of -10.27 and a beta of 0.57.

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

About Oklo

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.