Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 1.7% during mid-day trading on Friday . The stock traded as low as $75.10 and last traded at $77.99. 5,666,167 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 18,210,268 shares. The stock had previously closed at $79.32.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on OKLO. HC Wainwright began coverage on Oklo in a research report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 target price on the stock. Citigroup boosted their target price on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. Daiwa Capital Markets upgraded shares of Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. Finally, Wedbush set a $75.00 price objective on shares of Oklo and gave the company an "outperform" rating in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Oklo currently has an average rating of "Moderate Buy" and an average target price of $59.33.
Read Our Latest Research Report on Oklo
Oklo Trading Down 4.7%
The firm has a 50-day simple moving average of $61.96 and a 200-day simple moving average of $42.85. The firm has a market cap of $10.55 billion, a P/E ratio of -13.87 and a beta of 0.60.
Oklo (NYSE:OKLO - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. Research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Jacob Dewitte sold 300,000 shares of the 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 directly owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. This represents a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the firm's 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 completion of the transaction, the director directly owned 200,000 shares in the company, valued at $10,970,000. This represents a 20.00% decrease in their ownership of the stock. 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. Corporate insiders own 18.90% of the company's stock.
Hedge Funds Weigh In On Oklo
Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Oklo by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company's stock worth $104,646,000 after purchasing an additional 74,315 shares during the period. Vanguard Group Inc. raised its position in Oklo by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock valued at $94,770,000 after purchasing an additional 37,718 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock worth $125,906,000 after buying an additional 1,488,482 shares in the last quarter. Compound Planning Inc. increased its stake in shares of Oklo by 6.2% during the first quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock worth $20,869,000 after buying an additional 56,437 shares during the period. Finally, Portland Investment Counsel Inc. raised its holdings in Oklo by 0.6% in the first quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock valued at $17,358,000 after acquiring an additional 5,000 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.
Oklo Company Profile
(
Get Free Report)
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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