Oklo (NYSE:OKLO) Trading Up 24.9% - Still a Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price rose 24.9% during mid-day trading on Wednesday . The company traded as high as $67.64 and last traded at $65.63. Approximately 25,054,534 shares changed hands during mid-day trading, an increase of 89% from the average daily volume of 13,281,341 shares. The stock had previously closed at $52.54.

Wall Street Analyst Weigh In

OKLO has been the topic of a number of recent research reports. CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and raised their price target for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. HC Wainwright initiated coverage on shares of Oklo in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price objective on the stock. Seaport Res Ptn upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday. William Blair initiated coverage on shares of Oklo in a research report on Wednesday, May 28th. They issued an "outperform" rating on the stock. Finally, Wedbush lifted their price objective on shares of Oklo from $55.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.00.

Oklo Stock Performance

The business's 50 day moving average price is $34.10 and its two-hundred day moving average price is $31.16. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of -11.89 and a beta of 0.58.

Oklo (NYSE:OKLO - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping 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

In other Oklo news, Director John M. Jansen bought 6,000 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the acquisition, the director now directly owns 6,000 shares of the company's stock, valued at $147,420. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Co-Founder, CEO Jacob DeWitte 139,635 shares of the company's stock in a transaction on Friday, March 28th. Following the , the insider now directly owns 10,893,926 shares of the company's stock, valued at approximately $249,253,026.88. This trade represents a 1.27% decrease in their position. The disclosure for this trade can be found here. Insiders own 21.80% of the company's stock.

Institutional Investors Weigh In On Oklo

A number of large investors have recently made changes to their positions in OKLO. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo during the fourth quarter valued at approximately $27,000. Sandy Spring Bank acquired a new stake in shares of Oklo during the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC acquired a new stake in shares of Oklo during the fourth quarter valued at approximately $32,000. Covestor Ltd acquired a new stake in shares of Oklo during the fourth quarter valued at approximately $34,000. Finally, KBC Group NV acquired a new stake in shares of Oklo during the first quarter valued at approximately $36,000. Institutional investors and hedge funds 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.