Oklo Inc. (NYSE:OKLO) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Oklo Inc. has a consensus recommendation of "Moderate Buy" from analysts, with an average 1-year price target of $66.45.
• The stock recently traded up 4.5%, reaching $74.39, with a significant increase in trading volume.
• CEO Jacob Dewitte sold 300,000 shares of Oklo stock for approximately $16.56 million, reducing his ownership by 2.88%.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $66.4545.

Several equities analysts have issued reports on the stock. BNP Paribas Exane assumed coverage on shares of Oklo in a research report on Friday, July 25th. They issued an "underperform" rating and a $14.00 price target for the company. William Blair restated an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. Seaport Res Ptn upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and upped their price target for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. Finally, Daiwa America raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Sunday, July 27th.

Oklo Price Performance

OKLO stock traded up $5.98 during trading on Tuesday, reaching $79.18. 14,240,621 shares of the company were exchanged, compared to its average volume of 17,937,021. The company has a 50-day moving average of $66.16 and a two-hundred day moving average of $45.81. The company has a market capitalization of $11.69 billion, a price-to-earnings ratio of -188.29 and a beta of 0.60. Oklo has a twelve month low of $5.35 and a twelve month high of $85.35.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). On average, analysts forecast that Oklo will post -8.2 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael Stuart Klein sold 50,000 shares of the company'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 sale, the director directly owned 200,000 shares of the company's stock, valued at approximately $10,970,000. This represents a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction on 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 in the company, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 600,000 shares of company stock worth $35,066,500. Insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. State Street Corp boosted its position in Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company's stock worth $119,743,000 after purchasing an additional 1,752,946 shares during the period. Geode Capital Management LLC raised its stake in shares of Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock worth $125,906,000 after acquiring an additional 1,488,482 shares in the last quarter. Hood River Capital Management LLC purchased a new position in shares of Oklo during the second quarter worth approximately $40,919,000. JAT Capital Mgmt LP purchased a new position in shares of Oklo in the fourth quarter worth $14,798,000. Finally, Millennium Management LLC increased its stake in shares of Oklo by 4,974.1% in the first quarter. Millennium Management LLC now owns 582,002 shares of the company's stock worth $12,589,000 after buying an additional 570,532 shares during the period. 85.03% of the stock is owned by institutional investors.

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.