Oklo (NYSE:OKLO) Shares Up 9.3% - Time to Buy?

Key Points

• Oklo Inc.'s shares surged 9.3% to close at $136.25, with a high of $138.66 during trading on Friday.
• Analysts have mixed ratings on Oklo, with one Strong Buy, eight Buy, seven Hold, and four Sell ratings, leading to a consensus rating of "Hold".
• Insider trading activity includes CFO Richard Craig Bealmear selling 7,622 shares and Director Michael Stuart Klein disposing of 50,000 shares, indicating significant insider transactions in recent months.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price shot up 9.3% during mid-day trading on Friday . The company traded as high as $138.66 and last traded at $136.25. 18,015,192 shares traded hands during trading, a decline of 5% from the average session volume of 18,903,543 shares. The stock had previously closed at $124.70.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oklo in a research note on Wednesday, October 8th. HC Wainwright lifted their price objective on shares of Oklo from $55.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. William Blair reaffirmed an "outperform" rating on shares of Oklo in a research note on Tuesday, August 12th. Wedbush lifted their price objective on shares of Oklo from $80.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Finally, Zacks Research lowered shares of Oklo from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $98.14.

Oklo Price Performance

The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of -324.39 and a beta of 0.69. The stock's 50 day simple moving average is $107.31 and its 200-day simple moving average is $69.29.

Oklo (NYSE:OKLO - Get Free Report) last posted 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, equities research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Richard Craig Bealmear sold 7,622 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $101.44, for a total value of $773,175.68. Following the completion of the sale, the chief financial officer directly owned 121,913 shares in the company, valued at approximately $12,366,854.72. The trade was a 5.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the completion of the sale, the director owned 150,000 shares of the company's stock, valued at $20,064,000. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,387 shares of company stock valued at $52,698,580 over the last three months. Corporate insiders own 18.90% of the company's stock.

Institutional Trading of Oklo

A number of institutional investors and hedge funds have recently modified their holdings of OKLO. State Street Corp raised its stake in Oklo by 454.5% during 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Oklo by 195.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock worth $125,906,000 after purchasing an additional 1,488,482 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Oklo during the 2nd quarter worth about $40,919,000. Millennium Management LLC grew its holdings in Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company's stock worth $12,589,000 after acquiring an additional 570,532 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Oklo during the 1st quarter worth about $11,674,000. 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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