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

Oklo Inc. (NYSE:OKLO - Get Free Report) has been given an average rating of "Moderate Buy" by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $58.50.

Several equities analysts have commented on OKLO shares. William Blair started coverage on Oklo in a report on Wednesday, May 28th. They set an "outperform" rating on the stock. Craig Hallum downgraded shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a research note on Monday, June 23rd. BTIG Research started coverage on shares of Oklo in a research note on Friday, April 11th. They issued a "neutral" rating on the stock. CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and raised their price objective for the stock from $50.00 to $74.00 in a research note on Tuesday, May 27th. Finally, HC Wainwright started coverage on shares of Oklo in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price objective on the stock.

Oklo Price Performance

OKLO traded up $1.00 during midday trading on Monday, hitting $54.93. 7,207,368 shares of the company's stock traded hands, compared to its average volume of 14,567,801. The company has a market cap of $7.66 billion, a PE ratio of -10.13 and a beta of 0.57. The stock's fifty day simple moving average is $48.07 and its 200-day simple moving average is $36.27. Oklo has a one year low of $5.35 and a one year high of $73.55.

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. On average, research analysts expect that Oklo will post -8.2 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Oklo

A number of institutional investors have recently bought and sold shares of OKLO. MRA Advisory Group boosted its stake in shares of Oklo by 2.8% in the 2nd quarter. MRA Advisory Group now owns 9,770 shares of the company's stock valued at $547,000 after purchasing an additional 266 shares in the last quarter. Barclays PLC boosted its position in Oklo by 5.7% in the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock valued at $163,000 after buying an additional 416 shares in the last quarter. Signaturefd LLC grew its stake in Oklo by 5.4% during the first quarter. Signaturefd LLC now owns 8,962 shares of the company's stock worth $194,000 after buying an additional 462 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Oklo by 14.1% during the first quarter. Spire Wealth Management now owns 3,896 shares of the company's stock worth $84,000 after buying an additional 481 shares in the last quarter. Finally, Intrua Financial LLC raised its stake in shares of Oklo by 4.2% in the first quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock valued at $289,000 after acquiring an additional 535 shares during the last quarter. Institutional investors and hedge funds 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.