Oklo (NYSE:OKLO) Stock Price Up 5.4% - Time to Buy?

Key Points

• Oklo Inc. shares surged 5.4% recently, closing at $116.46 after trading as high as $121.53, with trading volume significantly exceeding the average.
• Equities analysts have mixed ratings on Oklo, with upgrades to "strong-buy" by Daiwa America and a consensus target price of $81.85 from a majority hold rating.
• Insiders have sold a total of 191,387 shares in recent months, with notable sales by CFO Richard Craig Bealmear and insider William Carroll Murphy Goodwin, indicating shifts in insider confidence.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares shot up 5.4% on Monday . The company traded as high as $121.53 and last traded at $116.46. 25,017,100 shares were traded during mid-day trading, an increase of 36% from the average session volume of 18,419,033 shares. The stock had previously closed at $110.53.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OKLO shares. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. HC Wainwright increased their price objective on shares of Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Craig Hallum cut Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target for the company. in a research note on Monday, June 23rd. Seaport Res Ptn downgraded Oklo from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Finally, Bank of America initiated coverage on Oklo in a report on Tuesday, August 26th. They issued a "buy" rating and a $92.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $81.85.

Oklo Trading Up 5.4%

The firm has a market capitalization of $17.19 billion, a P/E ratio of -277.27 and a beta of 0.59. The company has a 50-day moving average of $82.00 and a 200-day moving average of $54.54.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Research analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling

In related news, insider William Carroll Murphy Goodwin sold 41,387 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $70.09, for a total value of $2,900,814.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Craig Bealmear sold 92,378 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the transaction, the chief financial officer owned 75,738 shares in the company, valued at approximately $7,098,922.74. The trade was a 54.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,387 shares of company stock valued at $19,020,580. 18.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently modified their holdings of OKLO. Private Trust Co. NA bought a new position in Oklo in the 2nd quarter valued at $25,000. Caldwell Sutter Capital Inc. bought a new position in Oklo during the second quarter valued at about $25,000. Fourth Dimension Wealth LLC increased its holdings in Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after buying an additional 250 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Oklo in the second quarter worth about $28,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Oklo by 107.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after acquiring an additional 305 shares during the last quarter. 85.03% of the stock is owned by institutional investors.

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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