Oklo (NYSE:OKLO) Shares Up 7.4% - Still a Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price shot up 7.4% during mid-day trading on Monday . The company traded as high as $73.55 and last traded at $68.38. 15,209,659 shares were traded during mid-day trading, an increase of 11% from the average session volume of 13,741,631 shares. The stock had previously closed at $63.66.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKLO. Citigroup reissued a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. HC Wainwright initiated coverage on shares of Oklo in a research note on Wednesday, April 23rd. They set a "buy" rating and a $55.00 target price on the stock. William Blair initiated coverage on shares of Oklo in a research note on Wednesday, May 28th. They set an "outperform" rating on the stock. Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Finally, Wedbush set a $75.00 price objective on Oklo and gave the company an "outperform" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Oklo presently has an average rating of "Moderate Buy" and an average price target of $56.00.

Oklo Stock Up 6.7%

The company has a market cap of $9.48 billion, a P/E ratio of -12.58 and a beta of 0.58. The firm's 50 day moving average is $35.82 and its two-hundred day moving average is $31.87.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. As a group, research analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 35,365 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $25.15, for a total transaction of $889,429.75. Following the transaction, the chief executive officer now directly owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. This represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John M. Jansen purchased 6,000 shares of the business's stock in a transaction on Thursday, March 27th. The shares were acquired at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its position in Oklo by 5.7% in the 4th quarter. Barclays PLC now owns 7,666 shares of the company's stock valued at $163,000 after buying an additional 416 shares during the last quarter. Signaturefd LLC increased its holdings in Oklo by 5.4% in the 1st quarter. Signaturefd LLC now owns 8,962 shares of the company's stock worth $194,000 after acquiring an additional 462 shares during the last quarter. Spire Wealth Management increased its holdings in Oklo by 14.1% in the 1st quarter. Spire Wealth Management now owns 3,896 shares of the company's stock worth $84,000 after acquiring an additional 481 shares during the last quarter. Intrua Financial LLC increased its holdings in Oklo by 4.2% in the 1st quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock worth $289,000 after acquiring an additional 535 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in Oklo by 18.2% in the 4th quarter. Ancora Advisors LLC now owns 4,610 shares of the company's stock worth $98,000 after acquiring an additional 710 shares during the last quarter. Institutional investors own 85.03% of the company's stock.

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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