Brokerages Set Oklo Inc. (NYSE:OKLO) Price Target at $58.50

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

A number of research analysts recently weighed in on the stock. Wedbush set a $75.00 target price on shares of Oklo and gave the company an "outperform" rating in a research report on Thursday, June 12th. Craig Hallum cut Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective for the company. in a report on Monday, June 23rd. William Blair initiated coverage on Oklo in a report on Wednesday, May 28th. They set an "outperform" rating on the stock. Citigroup reissued a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. Finally, CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and increased their price target for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th.

Oklo Stock Up 0.8%

Shares of NYSE:OKLO traded up $0.45 during mid-day trading on Monday, reaching $53.97. 10,615,596 shares of the stock were exchanged, compared to its average volume of 14,548,314. The stock's 50 day simple moving average is $47.46 and its 200-day simple moving average is $36.14. Oklo has a one year low of $5.35 and a one year high of $73.55. The company has a market cap of $7.53 billion, a P/E ratio of -9.98 and a beta of 0.57.

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

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 300,000 shares of Oklo 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 completion of the transaction, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Stuart Klein sold 150,000 shares of Oklo stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the completion of the transaction, the director directly owned 250,000 shares of the company's stock, valued at approximately $15,685,000. This trade represents a 37.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 600,000 shares of company stock valued at $35,066,500. Insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Oklo by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company's stock worth $104,646,000 after buying an additional 74,315 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Oklo by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock worth $94,770,000 after buying an additional 37,718 shares during the period. Compound Planning Inc. boosted its holdings in shares of Oklo by 6.2% during the 1st quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock worth $20,869,000 after buying an additional 56,437 shares during the period. Portland Investment Counsel Inc. boosted its holdings in shares of Oklo by 0.6% during the 1st quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock worth $17,358,000 after buying an additional 5,000 shares during the period. Finally, JAT Capital Mgmt LP bought a new stake in shares of Oklo during the 4th quarter worth about $14,798,000. Institutional investors own 85.03% of the company's stock.

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.