Oklo (NYSE:OKLO) Shares Up 29.8% Following Analyst Upgrade

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price rose 29.8% during mid-day trading on Friday after CLSA raised their price target on the stock from $50.00 to $74.00. CLSA currently has an outperform rating on the stock. Oklo traded as high as $50.92 and last traded at $51.57. Approximately 44,940,633 shares traded hands during trading, an increase of 267% from the average daily volume of 12,247,501 shares. The stock had previously closed at $39.72.

OKLO has been the subject of a number of other reports. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price target on the stock. Citigroup restated a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. HC Wainwright assumed coverage on Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. Finally, Wedbush lifted their price target on Oklo from $45.00 to $55.00 and gave the company an "outperform" rating in a report on Friday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.67.

Insider Activity

In other news, CEO Jacob Dewitte sold 35,365 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $25.15, for a total value of $889,429.75. Following the completion of the sale, the chief executive officer now owns 11,033,561 shares of the company's stock, valued at $277,494,059.15. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John M. Jansen acquired 6,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company's stock.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Oklo by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company's stock worth $104,646,000 after buying an additional 74,315 shares during the period. Vanguard Group Inc. raised its stake in shares of Oklo by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock worth $94,770,000 after buying an additional 37,718 shares during the period. Van ECK Associates Corp acquired a new position in shares of Oklo during the 4th quarter worth approximately $38,661,000. Compound Planning Inc. raised its stake in shares of Oklo by 6.2% during the 1st quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock worth $20,869,000 after buying an additional 56,437 shares during the period. Finally, Portland Investment Counsel Inc. raised its stake in shares of Oklo by 0.6% during the 1st quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock worth $17,358,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 85.03% of the company's stock.

Oklo Stock Performance

The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of -9.93 and a beta of -0.02. The company has a 50 day moving average price of $27.25 and a two-hundred day moving average price of $28.70.

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

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.