Oklo (NYSE:OKLO) Shares Gap Up - Should You Buy?

Key Points

• Oklo Inc. shares experienced a significant surge, opening at $108.70 after a prior close of $104.97, and last traded at $124.31 with a volume of over 11 million shares.
• Several analysts have upgraded Oklo's stock, with Daiwa America raising it from a "hold" to a "strong buy" rating, amid bullish sentiment reflected in multiple target price increases.
• Insider sales were reported, with CEO Jacob Dewitte selling 300,000 shares for around $16.56 million, indicating notable insider activity amid high institutional ownership of 85.03%.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $104.97, but opened at $108.70. Oklo shares last traded at $124.31, with a volume of 11,438,737 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Craig Hallum downgraded Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective for the company. in a research report on Monday, June 23rd. Wedbush raised their target price on Oklo from $80.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday. William Blair restated an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. Daiwa America upgraded Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. Finally, Seaport Res Ptn upgraded Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $72.82.

Oklo Stock Performance

The company has a 50-day simple moving average of $75.63 and a 200-day simple moving average of $50.92. The stock has a market cap of $20.68 billion, a P/E ratio of -333.51 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). As a group, sell-side analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $55.20, for a total value of $16,560,000.00. Following the completion of the sale, the chief executive officer directly owned 10,105,098 shares in the company, valued at $557,801,409.60. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total value of $2,900,814.83. The disclosure for this sale can be found here. Insiders sold a total of 441,387 shares of company stock worth $28,892,580 over the last three months. 18.90% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. KBC Group NV increased its stake in shares of Oklo by 11.8% during the second quarter. KBC Group NV now owns 1,849 shares of the company's stock worth $104,000 after purchasing an additional 195 shares during the period. Fourth Dimension Wealth LLC increased its stake in shares of Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after purchasing an additional 250 shares during the period. MRA Advisory Group increased its stake in shares of Oklo by 2.8% during the second quarter. MRA Advisory Group now owns 9,770 shares of the company's stock worth $547,000 after purchasing an additional 266 shares during the period. Rothschild Investment LLC increased its stake in shares of Oklo by 82.9% during the second quarter. Rothschild Investment LLC now owns 640 shares of the company's stock worth $36,000 after purchasing an additional 290 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its stake in shares of Oklo by 107.0% during the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock worth $33,000 after purchasing an additional 305 shares during the period. Institutional investors own 85.03% of the company's stock.

Oklo Company Profile

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.