Oklo (NYSE:OKLO) Stock Price Up 29.8% After Analyst Upgrade

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) were up 29.8% during trading on Friday after Wedbush raised their price target on the stock from $45.00 to $55.00. Wedbush 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.

A number of other equities analysts have also recently commented on OKLO. Citigroup reaffirmed a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. Craig Hallum initiated coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a "buy" rating and a $44.00 target price on the stock. B. Riley upped their price target on shares of Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 6th. HC Wainwright began coverage on shares of Oklo in a research report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price target for the company. Finally, BTIG Research started coverage on shares of Oklo in a report on Friday, April 11th. They issued a "neutral" rating on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.40.

Insider Transactions at Oklo

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

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Archford Capital Strategies LLC bought a new position in shares of Oklo in the 4th quarter worth approximately $212,000. Vanguard Group Inc. boosted its position in shares of Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Oklo in the fourth quarter worth $2,209,000. Barclays PLC purchased a new stake in Oklo in the third quarter worth $58,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Oklo by 2,386.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company's stock worth $198,000 after purchasing an additional 8,950 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Oklo Price Performance

The firm has a market cap of $7.23 billion, a PE ratio of -9.53 and a beta of -0.02. The firm has a 50-day simple moving average of $26.37 and a 200 day simple moving average of $28.27.

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