Oklo (NYSE:OKLO) Shares Gap Up - What's Next?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $55.11, but opened at $57.83. Oklo shares last traded at $59.05, with a volume of 6,699,911 shares.

Analysts Set New Price Targets

OKLO has been the topic of several recent research reports. BTIG Research began coverage on shares of Oklo in a research note on Friday, April 11th. They issued a "neutral" rating on the stock. Wedbush set a $75.00 target price on shares of Oklo and gave the stock an "outperform" rating in a report on Thursday, June 12th. Craig Hallum downgraded Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target on the stock. in a research note on Monday. William Blair started coverage on Oklo in a research note on Wednesday, May 28th. They set an "outperform" rating for the company. Finally, CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and increased their target price for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

Oklo Trading Up 10.5%

The company has a market cap of $8.50 billion, a P/E ratio of -11.19 and a beta of 0.57. The business has a 50 day moving average price of $40.41 and a 200-day moving average price of $33.53.

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

Insider Buying and Selling at Oklo

In related news, Director Michael Stuart Klein sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $63.53, for a total transaction of $6,353,000.00. Following the sale, the director now owns 400,000 shares in the company, valued at approximately $25,412,000. This trade represents a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 35,365 shares of Oklo stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total transaction of $889,429.75. Following the completion of the transaction, the chief executive officer now directly owns 11,033,561 shares in the company, valued at $277,494,059.15. This trade represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 326,365 shares of company stock valued at $17,547,230 in the last ninety days. 18.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently made changes to their positions in OKLO. Rhumbline Advisers acquired a new stake in shares of Oklo during the 1st quarter valued at $65,000. Intrua Financial LLC boosted its stake in shares of Oklo by 4.2% during the first quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock valued at $289,000 after purchasing an additional 535 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Oklo by 24.8% during the first quarter. Geneos Wealth Management Inc. now owns 36,973 shares of the company's stock valued at $800,000 after purchasing an additional 7,352 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Oklo during the first quarter worth about $54,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Oklo by 90.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock valued at $2,439,000 after buying an additional 53,703 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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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