Oklo (NYSE:OKLO) Hits New 12-Month High - Time to Buy?

Key Points

• Oklo Inc. shares reached a new 52-week high of $78.34, with the last trade at $75.78, significantly higher than its previous close of $71.01.
• Analysts have upgraded Oklo's ratings, with CLSA raising its price target from $50.00 to $74.00, indicating strong confidence in the stock's performance.
• Over the last 90 days, company insiders have sold a total of 600,000 shares, valued at approximately $35 million, with 18.90% of outstanding shares currently held by insiders.

Oklo Inc. (NYSE:OKLO - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $78.34 and last traded at $75.78, with a volume of 22053359 shares traded. The stock had previously closed at $71.01.

Analysts Set New Price Targets

OKLO has been the topic of several research reports. 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 stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. William Blair initiated coverage on shares of Oklo in a research report on Wednesday, May 28th. They set an "outperform" rating on the stock. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research report on Friday, July 25th. Finally, BTIG Research initiated coverage on shares of Oklo in a research report on Friday, April 11th. They set a "neutral" rating on the stock. 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 issued a strong buy rating to the company. Based on data from MarketBeat, Oklo currently has an average rating of "Moderate Buy" and a consensus target price of $59.33.

Oklo Trading Down 6.6%

The company has a market capitalization of $9.98 billion, a P/E ratio of -13.22 and a beta of 0.57. The firm's 50 day moving average price is $59.28 and its two-hundred day moving average price is $40.99.

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 Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Oklo

In other Oklo news, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the completion of the sale, the director owned 250,000 shares of the company's stock, valued at $15,685,000. This trade represents a 37.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction on 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 sale, the chief executive officer directly owned 10,105,098 shares of the company's stock, 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 sold 600,000 shares of company stock valued at $35,066,500 over the last three months. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Oklo by 1.5% during the fourth 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 in the last quarter. Vanguard Group Inc. raised its stake in Oklo by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock valued at $94,770,000 after purchasing an additional 37,718 shares in the last quarter. Compound Planning Inc. raised its stake in Oklo by 6.2% in the first quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock valued at $20,869,000 after purchasing an additional 56,437 shares in the last quarter. Portland Investment Counsel Inc. raised its stake in Oklo by 0.6% in the first quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock valued at $17,358,000 after purchasing an additional 5,000 shares in the last quarter. Finally, JAT Capital Mgmt LP bought a new position in Oklo in the fourth quarter valued at about $14,798,000. Institutional investors and hedge funds own 85.03% of the company's stock.

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.