Oklo (NYSE:OKLO) Stock Price Up 5.7% - Should You Buy?

Key Points

• Oklo Inc. shares increased by 5.7% recently, reaching a trading high of $78.70, reflecting strong investor interest despite a drop in average trading volume.
• Recent analyst ratings are favorable, with HC Wainwright increasing its price target to $90.00 and Bank of America setting a target of $92.00, though opinions vary with some analysts proposing lower targets.
• Insider trading activity has seen significant selling, including a CEO selling 300,000 shares, which may raise concerns about management confidence in the stock's future performance.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares rose 5.7% during trading on Tuesday . The stock traded as high as $78.70 and last traded at $75.23. Approximately 12,760,542 shares traded hands during trading, a decline of 29% from the average daily volume of 17,914,416 shares. The stock had previously closed at $71.19.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HC Wainwright lifted 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. BTIG Research reiterated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Bank of America started coverage on shares of Oklo in a report on Tuesday. They set a "buy" rating and a $92.00 price target on the stock. BNP Paribas Exane started coverage on shares of Oklo in a report on Friday, July 25th. They set an "underperform" rating and a $14.00 price target on the stock. Finally, Citigroup lifted their price target on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Oklo presently has an average rating of "Moderate Buy" and a consensus price target of $66.45.

Oklo Stock Up 3.4%

The business's 50 day moving average is $65.70 and its two-hundred day moving average is $45.42. The firm has a market cap of $10.87 billion, a P/E ratio of -175.37 and a beta of 0.60.

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

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total value of $16,560,000.00. Following the completion of the sale, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the completion of the sale, the director directly owned 200,000 shares of the company's stock, valued at approximately $10,970,000. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 in the last ninety days. 18.90% of the stock is currently owned by insiders.

Institutional Trading of Oklo

A number of large investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new stake in Oklo during the second quarter valued at approximately $323,000. Newbridge Financial Services Group Inc. increased its position in Oklo by 87.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 14,362 shares of the company's stock worth $804,000 after purchasing an additional 6,712 shares during the last quarter. Marex Group plc bought a new position in Oklo during the 2nd quarter worth about $17,247,000. Advisory Services Network LLC grew its holdings in Oklo by 23.5% during the 2nd quarter. Advisory Services Network LLC now owns 21,142 shares of the company's stock worth $1,184,000 after acquiring an additional 4,026 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Oklo during the second quarter valued at about $200,000. 85.03% of the stock is currently 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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