Oklo (NYSE:OKLO) Hits New 12-Month High - Here's Why

Key Points

• Oklo Inc.'s stock price reached a new 12-month high, trading at $136.95 and closing at $135.93, with over 19 million shares traded.
• Several analysts have set new price targets for Oklo, with Wedbush raising their target from $80.00 to $150.00 while the average target is $72.82.
• Insiders have sold a significant amount of stock, with over 441,387 shares traded recently, indicating potential changes in ownership dynamics within the company.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $136.95 and last traded at $135.93, with a volume of 19883079 shares traded. The stock had previously closed at $135.23.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Cantor Fitzgerald set a $73.00 target price on shares of Oklo and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Bank of America assumed coverage on shares of Oklo in a research report on Tuesday, August 26th. They set a "buy" rating and a $92.00 target price on the stock. Daiwa Capital Markets upgraded shares of Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday, July 27th. Wedbush lifted their target price on shares of Oklo from $80.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Citigroup boosted their price target on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Oklo currently has an average rating of "Moderate Buy" and an average target price of $72.82.

Oklo Stock Performance

The stock has a market cap of $20.68 billion, a P/E ratio of -333.33 and a beta of 0.59. The company's 50 day moving average price is $75.63 and its 200-day moving average price is $50.92.

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

Insider Activity at Oklo

In related news, insider William Carroll Murphy Goodwin sold 41,387 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Craig Bealmear sold 92,378 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the sale, the chief financial officer directly owned 75,738 shares in the company, valued at approximately $7,098,922.74. This trade represents a 54.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 441,387 shares of company stock worth $28,892,580. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the business. KBC Group NV lifted its holdings in shares of Oklo by 11.8% in the second quarter. KBC Group NV now owns 1,849 shares of the company's stock worth $104,000 after buying an additional 195 shares in the last quarter. Fourth Dimension Wealth LLC lifted its holdings in shares of Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after buying an additional 250 shares in the last quarter. MRA Advisory Group increased its position in shares of Oklo by 2.8% in the second quarter. MRA Advisory Group now owns 9,770 shares of the company's stock worth $547,000 after purchasing an additional 266 shares during the last quarter. Rothschild Investment LLC increased its position in shares of Oklo by 82.9% in the second quarter. Rothschild Investment LLC now owns 640 shares of the company's stock worth $36,000 after purchasing an additional 290 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Oklo by 107.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock worth $33,000 after purchasing an additional 305 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.

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