Oklo (NYSE:OKLO) Trading 2.8% Higher - Should You Buy?

Key Points

• Oklo Inc.'s share price increased by 2.8% during trading on Thursday, reaching a high of $80.42 before closing at $77.71, despite a 54% decline in trading volume compared to the average.
• Analysts have mixed opinions on Oklo, with two analysts rating it as a sell, three as hold, six as buy, and two as strong buy, leading to a consensus rating of "Moderate Buy" with an average target price of $59.33.
• Insider trading activity shows that CEO Jacob Dewitte sold 300,000 shares for $16.56 million, representing a 2.88% decrease in his ownership stake, while institutional investors own approximately 85.03% of the company's stock.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price traded up 2.8% on Thursday . The company traded as high as $80.42 and last traded at $77.71. 8,307,263 shares were traded during mid-day trading, a decline of 54% from the average session volume of 18,207,311 shares. The stock had previously closed at $75.63.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. HC Wainwright initiated coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target for the company. William Blair started coverage on shares of Oklo in a research note on Wednesday, May 28th. They issued an "outperform" rating on the stock. Daiwa Capital Markets raised shares of Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday. Wedbush set a $75.00 price target on shares of Oklo and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and boosted their price objective for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $59.33.

Oklo Trading Down 4.5%

The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of -13.52 and a beta of 0.57. The company's 50-day simple moving average is $59.28 and its 200-day simple moving average is $40.99.

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

Insider Transactions at Oklo

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

Institutional Trading of Oklo

A number of institutional investors have recently modified their holdings of the business. MRA Advisory Group lifted its stake in Oklo by 2.8% in the 2nd quarter. MRA Advisory Group now owns 9,770 shares of the company's stock worth $547,000 after purchasing an additional 266 shares in the last quarter. Barclays PLC lifted its stake in Oklo by 5.7% in the 4th quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after purchasing an additional 416 shares in the last quarter. Private Trust Co. NA purchased a new stake in Oklo in the 2nd quarter worth approximately $25,000. Caldwell Sutter Capital Inc. purchased a new stake in Oklo in the 2nd quarter worth approximately $25,000. Finally, Signaturefd LLC lifted its stake in Oklo by 5.4% in the 1st quarter. Signaturefd LLC now owns 8,962 shares of the company's stock worth $194,000 after purchasing an additional 462 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.