Oklo (NYSE:OKLO) Stock Price Up 9.6% - Still a Buy?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) shot up 9.6% during trading on Wednesday . The company traded as high as $24.24 and last traded at $23.59. 9,480,690 shares changed hands during trading, a decline of 19% from the average session volume of 11,659,104 shares. The stock had previously closed at $21.53.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OKLO. Craig Hallum initiated coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price target for the company. B. Riley upped their target price on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Wedbush reaffirmed an "outperform" rating and set a $45.00 price target on shares of Oklo in a research note on Tuesday, March 25th. Citigroup lowered their price objective on shares of Oklo from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Finally, BTIG Research started coverage on shares of Oklo in a research report on Friday, April 11th. They issued a "neutral" rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Oklo has a consensus rating of "Moderate Buy" and a consensus target price of $46.40.

Oklo Stock Down 2.4 %

The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -2.34 and a beta of -0.01. The firm has a fifty day moving average price of $26.45 and a 200-day moving average price of $26.65.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Monday, March 24th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Equities research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

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