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

Key Points

• Oklo Inc. shares saw a significant increase, gapping up from $174.14 to $185.96 before trading at $187.36 with over 6 million shares exchanged.
• Analyst ratings for Oklo are mixed, with a consensus target price of $98.14 and reports of price objectives ranging from $14.00 to $175.00.
• Insiders have recently sold a substantial amount of shares, with notable transactions including CEO Jacob Dewitte selling 300,000 shares for over $33.6 million, indicating a decrease in ownership by 2.98%.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $174.14, but opened at $185.96. Oklo shares last traded at $187.36, with a volume of 6,742,991 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group set a $175.00 price objective on shares of Oklo in a research note on Thursday, October 9th. Cantor Fitzgerald set a $73.00 price objective on shares of Oklo and gave the company an "overweight" rating in a report on Tuesday, July 15th. Wedbush lifted their price objective on shares of Oklo from $80.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Citigroup lifted their price objective on shares of Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, BNP Paribas Exane started coverage on shares of Oklo in a report on Friday, July 25th. They set an "underperform" rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $98.14.

Oklo Price Performance

The business's fifty day simple moving average is $97.31 and its two-hundred day simple moving average is $63.46. The company has a market cap of $25.11 billion, a PE ratio of -407.89 and a beta of 0.69.

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

Insider Buying and Selling at Oklo

In related news, insider William Carroll Murphy Goodwin sold 41,387 shares of the company'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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the completion of the transaction, the chief executive officer directly owned 9,780,098 shares in the company, valued at $1,097,913,801.48. This trade represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 491,387 shares of company stock valued at $52,698,580. Insiders own 18.90% of the company's stock.

Institutional Trading of Oklo

A number of large investors have recently bought and sold shares of OKLO. State Street Corp increased its holdings in shares of Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company's stock valued at $119,743,000 after purchasing an additional 1,752,946 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Oklo by 195.9% in the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock worth $125,906,000 after acquiring an additional 1,488,482 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Oklo in the second quarter worth approximately $40,919,000. Millennium Management LLC grew its stake in Oklo by 4,974.1% during the first quarter. Millennium Management LLC now owns 582,002 shares of the company's stock worth $12,589,000 after buying an additional 570,532 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Oklo during the first quarter worth approximately $11,674,000. Institutional investors and hedge funds 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.

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