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

Key Points

• Oklo Inc. shares experienced a significant increase, gapping up from a previous close of $110.53 to an opening price of $118.25 on Monday.
• Analysts have given mixed ratings for Oklo, with an average rating of "Hold" and a consensus price target of $81.85.
• Insider activity showed substantial selling, with CFO Richard Bealmear selling 92,378 shares and total insider sales amounting to $19 million in the last quarter.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $110.53, but opened at $118.25. Oklo shares last traded at $118.58, with a volume of 7,587,732 shares changing hands.

Wall Street Analysts Forecast Growth

OKLO has been the subject of several analyst reports. BNP Paribas raised shares of Oklo to a "strong sell" rating in a research note on Friday, July 25th. Seaport Res Ptn lowered shares of Oklo from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Bank of America assumed coverage on shares of Oklo in a research note on Tuesday, August 26th. They issued a "buy" rating and a $92.00 target price on the stock. Craig Hallum cut shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price on the stock. in a research note on Monday, June 23rd. Finally, BTIG Research reissued a "neutral" rating on shares of Oklo in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $81.85.

Oklo Stock Up 6.4%

The company's fifty day simple moving average is $82.00 and its two-hundred day simple moving average is $54.54. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of -280.31 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Equities research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity

In other Oklo news, CFO Richard Craig Bealmear sold 92,378 shares of Oklo stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total value of $8,658,589.94. Following the completion of the sale, the chief financial officer owned 75,738 shares in the company, valued at $7,098,922.74. The trade was a 54.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The disclosure for this sale can be found here. Insiders sold a total of 191,387 shares of company stock valued at $19,020,580 in the last quarter. Company insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

A number of institutional investors have recently modified their holdings of OKLO. Caldwell Sutter Capital Inc. acquired a new position in shares of Oklo during the 2nd quarter valued at $25,000. Private Trust Co. NA acquired a new position in Oklo during the second quarter worth $25,000. Fourth Dimension Wealth LLC raised its holdings in shares of Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock valued at $25,000 after purchasing an additional 250 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Oklo during the second quarter valued at about $28,000. Finally, Creative Financial Designs Inc. ADV grew its position in Oklo by 107.0% during the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after buying an additional 305 shares during the period. 85.03% of the stock is owned by institutional investors.

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.

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