Oklo (NYSE:OKLO) Shares Up 1.1% - Should You Buy?

Key Points

• Oklo's share price increased by 1.1% to $70.53, despite trading volume dropping significantly to 3,063,111 shares, which is 83% less than the average.
• Analysts have differing views on Oklo, with a consensus rating of "Moderate Buy" and a target price of $66.45, while individual ratings range from "Strong Buy" to "Strong Sell."
• CEO Jacob Dewitte sold 300,000 shares for approximately $16.56 million, indicating notable insider selling, as 18.90% of the stock is currently held by insiders.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price traded up 1.1% on Monday . The company traded as high as $71.87 and last traded at $70.53. 3,063,111 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 17,673,898 shares. The stock had previously closed at $69.79.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OKLO shares. BNP Paribas Exane started coverage on Oklo in a research report on Friday, July 25th. They issued an "underperform" rating and a $14.00 target price for the company. William Blair reissued an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research report on Friday, July 25th. Citigroup lifted their price target on Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Bank of America began coverage on shares of Oklo in a report on Tuesday, August 26th. They set a "buy" rating and a $92.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $66.45.

Oklo Trading Up 0.9%

The firm's fifty day moving average price is $68.31 and its two-hundred day moving average price is $46.83. The stock has a market capitalization of $10.40 billion, a PE ratio of -167.82 and a beta of 0.59.

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

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the business's 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 transaction, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $54.85, for a total value of $2,742,500.00. Following the completion of the transaction, the director directly owned 200,000 shares of the company's stock, valued at $10,970,000. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 600,000 shares of company stock valued at $35,066,500. 18.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its position in Oklo by 5.7% during the 4th quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after purchasing an additional 416 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Oklo in the 4th quarter worth approximately $267,000. Northern Trust Corp grew its position in Oklo by 10.7% during the fourth quarter. Northern Trust Corp now owns 167,304 shares of the company's stock valued at $3,552,000 after purchasing an additional 16,222 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Oklo in the 4th quarter valued at $354,000. Finally, Cetera Investment Advisers increased its position in shares of Oklo by 284.0% during the 4th quarter. Cetera Investment Advisers now owns 57,620 shares of the company's stock worth $1,223,000 after purchasing an additional 42,613 shares in the last quarter. Hedge funds and other 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.

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