Oklo (NYSE:OKLO) Sees Strong Trading Volume - Still a Buy?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 21,034,794 shares traded hands during trading, an increase of 59% from the previous session's volume of 13,266,065 shares.The stock last traded at $67.42 and had previously closed at $52.54.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of analyst reports. HC Wainwright assumed coverage on shares of Oklo in a research note on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price target for the company. Wedbush lifted their target price on shares of Oklo from $55.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday. William Blair started coverage on Oklo in a research report on Wednesday, May 28th. They set an "outperform" rating for the company. BTIG Research began coverage on shares of Oklo in a research report on Friday, April 11th. They issued a "neutral" rating for the company. Finally, Citigroup restated a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Oklo presently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

Oklo Price Performance

The company has a market cap of $8.95 billion, a P/E ratio of -11.89 and a beta of 0.58. The stock has a fifty day moving average price of $34.10 and a two-hundred day moving average price of $31.16.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. Equities analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity at Oklo

In other news, CEO Jacob Dewitte sold 41,000 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the sale, the chief executive officer now owns 10,852,926 shares of the company's stock, valued at $236,593,786.80. This represents a 0.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John M. Jansen acquired 6,000 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were acquired at an average cost of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now owns 6,000 shares in the company, valued at approximately $147,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers purchased a new stake in shares of Oklo during the 1st quarter valued at about $65,000. Intrua Financial LLC grew its holdings in Oklo by 4.2% during the 1st quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock valued at $289,000 after purchasing an additional 535 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Oklo by 24.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 36,973 shares of the company's stock worth $800,000 after purchasing an additional 7,352 shares during the period. Flaharty Asset Management LLC purchased a new stake in Oklo in the 1st quarter worth about $54,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Oklo by 90.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock worth $2,439,000 after purchasing an additional 53,703 shares during the last quarter. Hedge funds and other institutional investors 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.