Oklo (NYSE:OKLO) Shares Gap Up - Time to Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $52.44, but opened at $56.00. Oklo shares last traded at $51.20, with a volume of 15,726,670 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on OKLO shares. Citigroup restated a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and upped their price objective for the company from $50.00 to $74.00 in a report on Tuesday, May 27th. B. Riley upped their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 6th. HC Wainwright initiated coverage on shares of Oklo in a report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price objective on the stock. Finally, William Blair initiated coverage on shares of Oklo in a report on Wednesday, May 28th. They issued an "outperform" rating on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.67.

Oklo Stock Performance

The company's fifty day moving average is $30.29 and its two-hundred day moving average is $29.92. The company has a market cap of $6.85 billion, a price-to-earnings ratio of -9.09 and a beta of -0.02.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. On average, sell-side analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Co-Founder, CEO Jacob DeWitte 139,635 shares of the business's stock in a transaction dated Friday, March 28th. Following the , the insider now directly owns 10,893,926 shares of the company's stock, valued at approximately $249,253,026.88. The trade was a 1.27% decrease in their ownership of the stock. The was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John M. Jansen acquired 6,000 shares of the stock in a transaction on Thursday, March 27th. The stock was bought at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the transaction, the director now owns 6,000 shares in the company, valued at approximately $147,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OKLO. Vanguard Group Inc. lifted its position in shares of Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after buying an additional 2,090,154 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Oklo during the 4th quarter valued at approximately $38,661,000. TimesSquare Capital Management LLC purchased a new position in shares of Oklo during the 4th quarter valued at approximately $17,104,000. JAT Capital Mgmt LP purchased a new position in shares of Oklo during the 4th quarter valued at approximately $14,798,000. Finally, Millennium Management LLC lifted its position in shares of Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company's stock valued at $12,589,000 after buying an additional 570,532 shares in 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.