Oklo (NYSE:OKLO) Reaches New 52-Week High - Here's What Happened

Key Points

• Oklo Inc. shares reached a new 52-week high at $85.20 during mid-day trading, closing at $84.00 with a trading volume of over 23 million shares.
• The average rating for Oklo's stock is "Moderate Buy" with an average price target of $59.33, following various analyst upgrades and downgrades.
• Insider trading activity includes a notable sale of 600,000 shares by executives, indicating potential concerns among corporate insiders regarding future stock performance.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $85.20 and last traded at $84.00, with a volume of 23427845 shares. The stock had previously closed at $76.41.

Analyst Ratings Changes

A number of research firms recently commented on OKLO. Daiwa America upgraded Oklo from a "hold" rating to a "strong-buy" rating in a report on Sunday, July 27th. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research note on Friday, July 25th. CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and raised their price target for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. Cantor Fitzgerald set a $73.00 price target on shares of Oklo and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Citigroup upped their price objective on Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.33.

Oklo Stock Performance

The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of -14.64 and a beta of 0.60. The business's 50 day simple moving average is $61.96 and its 200-day simple moving average is $42.85.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. As a group, sell-side analysts expect that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity

In related news, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the completion of the sale, the director directly owned 200,000 shares of the company's stock, valued at approximately $10,970,000. This trade represents a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction that occurred 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 sale, the chief executive officer directly owned 10,105,098 shares in the company, valued at $557,801,409.60. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 over the last three months. Insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after buying an additional 2,090,154 shares in the last quarter. Alliancebernstein L.P. bought a new position in shares of Oklo during the 4th quarter valued at approximately $1,693,000. LPL Financial LLC purchased a new stake in Oklo in the 4th quarter worth $2,762,000. OneDigital Investment Advisors LLC purchased a new position in Oklo during the first quarter valued at $229,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Oklo by 66.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 68,577 shares of the company's stock valued at $1,483,000 after buying an additional 27,458 shares in the last quarter. 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.