Oklo (NYSE:OKLO) Stock Price Up 6.7% - Still a Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report) shares rose 6.7% during mid-day trading on Thursday . The company traded as high as $38.80 and last traded at $39.27. Approximately 5,532,003 shares were traded during trading, a decline of 65% from the average daily volume of 15,906,602 shares. The stock had previously closed at $36.81.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of recent research reports. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 target price on the stock. Wedbush set a $45.00 price target on Oklo and gave the stock an "outperform" rating in a report on Wednesday, May 14th. HC Wainwright assumed coverage on shares of Oklo in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 target price for the company. B. Riley increased 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. Finally, Citigroup reaffirmed a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Oklo presently has an average rating of "Moderate Buy" and an average price target of $46.40.

Oklo Price Performance

The company has a 50-day moving average price of $26.14 and a 200-day moving average price of $28.14. The firm has a market capitalization of $5.57 billion, a PE ratio of -7.35 and a beta of -0.02.

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

Insider Transactions at Oklo

In related news, Director John M. Jansen acquired 6,000 shares of Oklo stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average price of $24.57 per share, with a total value of $147,420.00. Following the completion of 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the transaction, the chief executive officer now owns 10,852,926 shares of the company's stock, valued at $236,593,786.80. This trade represents a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. purchased a new stake in shares of Oklo in the fourth quarter worth approximately $27,000. CoreCap Advisors LLC acquired a new stake in Oklo in the 4th quarter worth $32,000. Sandy Spring Bank acquired a new stake in Oklo during the fourth quarter worth $32,000. Covestor Ltd acquired a new stake in shares of Oklo during the 4th quarter valued at about $34,000. Finally, KBC Group NV bought a new stake in shares of Oklo in the 1st quarter valued at approximately $36,000. Institutional investors own 85.03% of the company's stock.

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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