Oklo (NYSE:OKLO) Shares Up 2.6% - Time to Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report) traded up 2.6% on Monday . The stock traded as high as $51.95 and last traded at $51.59. 5,140,803 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 13,139,289 shares. The stock had previously closed at $50.29.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OKLO. BTIG Research began coverage on Oklo in a report on Friday, April 11th. They issued a "neutral" rating for the company. Seaport Res Ptn upgraded Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday. Citigroup reissued a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. Wedbush increased their price objective on Oklo from $55.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and increased their price target for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Oklo Stock Down 5.5%

The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of -11.89 and a beta of 0.58. The business has a 50-day moving average of $34.10 and a two-hundred day moving average of $31.16.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Oklo by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company's stock valued at $104,646,000 after buying an additional 74,315 shares during the last quarter. Vanguard Group Inc. increased its holdings in Oklo by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock worth $94,770,000 after acquiring an additional 37,718 shares during the period. Van ECK Associates Corp bought a new position in shares of Oklo in the 4th quarter worth $38,661,000. Compound Planning Inc. boosted its stake in shares of Oklo by 6.2% in the 1st quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock valued at $20,869,000 after purchasing an additional 56,437 shares in the last quarter. Finally, Portland Investment Counsel Inc. boosted its position in Oklo by 0.6% during the 1st quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock valued at $17,358,000 after buying an additional 5,000 shares during the period. 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.