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

Key Points

• Oklo Inc. shares reached a new **52-week high** of **$147.18** on Monday, closing at **$138.11** with a trading volume of over **7.3 million shares**.
• The company's **market capitalization** stands at **$21.19 billion**, while analysts maintain a consensus rating of **"Hold"** with an average target price of **$83.77**.
• Recent insider trading activity included significant stock sales by executives, indicating a **25% decrease** in the director's ownership following a sale worth over **$6.6 million**.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $147.18 and last traded at $138.11, with a volume of 7369651 shares. The stock had previously closed at $127.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OKLO shares. BTIG Research reissued a "neutral" rating on shares of Oklo in a research note on Tuesday, August 12th. BNP Paribas Exane assumed coverage on Oklo in a report on Friday, July 25th. They issued an "underperform" rating and a $14.00 target price on the stock. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research note on Friday, July 25th. Citigroup raised their price objective on shares of Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, William Blair reiterated an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $83.77.

Oklo Stock Performance

The firm has a market capitalization of $21.19 billion, a P/E ratio of -343.46 and a beta of 0.69. The firm has a 50 day simple moving average of $87.18 and a two-hundred day simple moving average of $57.77.

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

Insider Activity

In related news, insider William Carroll Murphy Goodwin sold 41,387 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $70.09, for a total transaction of $2,900,814.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the sale, the director owned 150,000 shares in the company, valued at $20,064,000. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,387 shares of company stock worth $52,698,580. Corporate insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

Hedge funds have recently made changes to their positions in the business. Clarus Wealth Advisors purchased a new position in shares of Oklo in the 3rd quarter worth about $273,000. Praxis Investment Management Inc. bought a new stake in Oklo in the third quarter worth about $351,000. CacheTech Inc. purchased a new position in Oklo in the second quarter valued at about $437,000. Adams Wealth Management purchased a new position in Oklo in the second quarter valued at about $437,000. Finally, Watts Gwilliam & Co. LLC bought a new position in shares of Oklo during the 2nd quarter valued at approximately $570,000. 85.03% of the stock is currently 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.

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