Oklo (NYSE:OKLO) Reaches New 1-Year High - Here's Why

Key Points

• Oklo Inc. (NYSE:OKLO) shares hit a new 52-week high at $89.46, showcasing significant trading activity with over 3.35 million shares exchanged.
• Investment analysts have varied opinions on Oklo, with a median rating of "Moderate Buy" and an average price target of $66.45; Bank of America has set a target of $92.00.
• Institutional investors currently hold 85.03% of Oklo's shares, reflecting strong support from major financial entities amid moderate insider selling activity.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $89.46 and last traded at $86.00, with a volume of 3355689 shares traded. The stock had previously closed at $82.71.

Wall Street Analyst Weigh In

OKLO has been the topic of a number of research reports. Bank of America initiated coverage on Oklo in a report on Tuesday, August 26th. They issued a "buy" rating and a $92.00 price target on the stock. William Blair restated an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. BTIG Research restated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Craig Hallum cut Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target on the stock. in a report on Monday, June 23rd. Finally, Cantor Fitzgerald set a $73.00 target price on Oklo and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.45.

Oklo Price Performance

The firm has a market cap of $12.65 billion, a PE ratio of -204.58 and a beta of 0.59. The stock has a 50-day moving average price of $70.61 and a 200 day moving average price of $48.28.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). As a group, equities research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Insiders Place Their Bets

In other Oklo news, insider William Carroll Murphy Goodwin sold 41,387 shares of the business's stock in a transaction dated 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 legal filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 300,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $55.20, for a total value of $16,560,000.00. Following the transaction, the chief executive officer owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 641,387 shares of company stock worth $37,967,315 over the last quarter. 18.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OKLO. Caldwell Sutter Capital Inc. purchased a new stake in shares of Oklo during the second quarter worth about $25,000. Private Trust Co. NA purchased a new stake in shares of Oklo during the second quarter worth about $25,000. Fourth Dimension Wealth LLC increased its position in shares of Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after acquiring an additional 250 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Oklo during the second quarter worth about $28,000. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Oklo by 107.0% during the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock worth $33,000 after acquiring an additional 305 shares during the last quarter. 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.

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