Oklo (NYSE:OKLO) Hits New 12-Month High - Still a Buy?

Key Points

• Oklo Inc. shares reached a new 52-week high at $77.17, closing at $74.76 with a trading volume of over 40 million shares.
• Analysts have issued mixed ratings, with price targets ranging from $30 to $74, resulting in a consensus rating of "Moderate Buy" with a target price of $65.
• Insider trading has seen significant activity, including the sale of 600,000 shares by company directors, representing a substantial decrease in their ownership stakes.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $77.17 and last traded at $74.76, with a volume of 40297924 shares traded. The stock had previously closed at $66.97.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Craig Hallum downgraded shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price for the company. in a research report on Monday, June 23rd. Cantor Fitzgerald initiated coverage on shares of Oklo in a research report on Tuesday, July 15th. They set an "overweight" rating and a $73.00 target price for the company. BNP Paribas Exane began coverage on shares of Oklo in a research note on Friday. They set an "underperform" rating and a $14.00 price target on the stock. Finally, Daiwa Capital Markets began coverage on shares of Oklo in a research note on Friday, July 11th. They issued a "neutral" rating and a $58.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $59.33.

Oklo Trading Up 1.0%

The company's fifty day moving average is $56.39 and its 200 day moving average is $39.62. The company has a market cap of $10.52 billion, a P/E ratio of -13.93 and a beta of 0.57.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. Analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the sale, the chief executive officer owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the sale, the director directly owned 200,000 shares in the company, valued at $10,970,000. The trade was a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 in the last ninety days. Insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OKLO. Caldwell Sutter Capital Inc. bought a new stake in shares of Oklo in the second quarter worth approximately $25,000. ORG Partners LLC grew its stake in shares of Oklo by 281.0% in the second quarter. ORG Partners LLC now owns 800 shares of the company's stock worth $41,000 after acquiring an additional 590 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Oklo in the second quarter worth approximately $57,000. TD Waterhouse Canada Inc. bought a new stake in Oklo during the fourth quarter valued at approximately $27,000. Finally, SJS Investment Consulting Inc. grew its position in Oklo by 205.4% during the second quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the company's stock valued at $76,000 after buying an additional 908 shares during the period. 85.03% of the stock is owned by hedge funds and other 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.