Oklo (NYSE:OKLO) Shares Up 4.3% After Analyst Upgrade

Key Points

• Oklo Inc. (NYSE:OKLO) saw its share price increase by 4.3% following an upgrade from Wedbush, raising its target price from $75.00 to $80.00.
• Recent reports from multiple analysts have resulted in a consensus rating of Moderate Buy for Oklo, with an average target price of $63.78.
• CEO Jacob Dewitte recently sold 300,000 shares of Oklo stock, representing a 2.88% decrease in his ownership, while insiders have sold a total of 600,000 shares worth over $35 million in the last 90 days.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price rose 4.3% during mid-day trading on Tuesday after Wedbush raised their price target on the stock from $75.00 to $80.00. Wedbush currently has an outperform rating on the stock. Oklo traded as high as $74.66 and last traded at $74.98. Approximately 7,714,842 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 18,186,309 shares. The stock had previously closed at $71.86.

Other equities analysts also recently issued reports about the company. Daiwa America raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. HC Wainwright upped their target price on Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday. Citigroup upped their target price on Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, BNP Paribas Exane assumed coverage on Oklo in a research report on Friday, July 25th. They issued an "underperform" rating and a $14.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Oklo presently has a consensus rating of "Moderate Buy" and an average target price of $63.78.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the firm's stock in a transaction dated 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 sale, the director owned 200,000 shares in the company, valued at $10,970,000. This trade represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 over the last 90 days. Insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Caldwell Sutter Capital Inc. acquired a new position in shares of Oklo during the 2nd quarter worth approximately $25,000. Private Trust Co. NA acquired a new position in shares of Oklo during the 2nd quarter worth approximately $25,000. Fourth Dimension Wealth LLC boosted its holdings in shares of Oklo by 125.0% during the 2nd 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 last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo during the 4th quarter worth approximately $27,000. Finally, CoreCap Advisors LLC acquired a new position in shares of Oklo during the 4th quarter worth approximately $32,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Trading Up 4.8%

The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of -13.87 and a beta of 0.60. The company has a fifty day moving average price of $62.80 and a two-hundred day moving average price of $43.46.

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

About Oklo

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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