Oklo (NYSE:OKLO) Sees Strong Trading Volume After Analyst Upgrade

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) saw an uptick in trading volume on Friday after Wedbush raised their price target on the stock from $45.00 to $55.00. Wedbush currently has an outperform rating on the stock. 31,599,387 shares changed hands during mid-day trading, an increase of 159% from the previous session's volume of 12,200,636 shares.The stock last traded at $49.90 and had previously closed at $39.72.

OKLO has been the subject of several other research reports. B. Riley upped their target price on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. HC Wainwright started coverage on shares of Oklo in a research report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price target on the stock. BTIG Research started coverage on shares of Oklo in a research report on Friday, April 11th. They set a "neutral" rating on the stock. Craig Hallum started coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price target on the stock. Finally, Citigroup reiterated a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Oklo currently has an average rating of "Moderate Buy" and an average price target of $48.40.

Insider Transactions at Oklo

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new stake in Oklo in the fourth quarter valued at $27,000. Sandy Spring Bank bought a new stake in Oklo in the fourth quarter valued at $32,000. CoreCap Advisors LLC bought a new stake in Oklo in the fourth quarter valued at $32,000. Covestor Ltd bought a new stake in Oklo in the fourth quarter valued at $34,000. Finally, KBC Group NV purchased a new position in Oklo during the first quarter valued at $36,000. Institutional investors own 85.03% of the company's stock.

Oklo Price Performance

The firm has a market cap of $6.84 billion, a PE ratio of -9.08 and a beta of -0.02. The firm has a 50-day simple moving average of $26.83 and a 200 day simple moving average of $28.51.

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

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.