Oklo (NYSE:OKLO) Trading 2.9% Higher - Should You Buy?

Key Points

• Oklo Inc.'s share price increased by 2.9% to $68.49, with a total volume of over 5 million shares traded, which is a significant drop from its average volume.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Oklo, with price targets ranging from $14.00 to $80.00.
• Insider trading shows significant sales, with Director Michael Stuart Klein selling 50,000 shares and CEO Jacob Dewitte selling 300,000 shares in recent months, indicating a 20% and 2.88% decrease in their positions respectively.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price traded up 2.9% during mid-day trading on Thursday . The stock traded as high as $69.44 and last traded at $68.49. 5,126,854 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 17,992,959 shares. The stock had previously closed at $66.57.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OKLO. Cantor Fitzgerald set a $73.00 price objective on shares of Oklo and gave the company an "overweight" rating in a report on Tuesday, July 15th. Daiwa Capital Markets upgraded shares of Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. Seaport Res Ptn upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Wedbush lifted their price objective on shares of Oklo from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Finally, BNP Paribas Exane began coverage on shares of Oklo in a report on Friday, July 25th. They set an "underperform" rating and a $14.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Oklo presently has a consensus rating of "Moderate Buy" and an average target price of $63.90.

Oklo Trading Up 1.0%

The business's 50-day moving average price is $65.40 and its 200-day moving average price is $45.05. The stock has a market cap of $9.93 billion, a PE ratio of -160.20 and a beta of 0.60.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). As a group, analysts predict that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity at Oklo

In other Oklo news, Director Michael Stuart Klein sold 50,000 shares of the business's 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 sale, the director owned 200,000 shares of the company's stock, valued at approximately $10,970,000. The trade was a 20.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 300,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the sale, the chief executive officer directly owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is owned by insiders.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. Caldwell Sutter Capital Inc. acquired a new stake in Oklo during the 2nd quarter valued at approximately $25,000. Private Trust Co. NA acquired a new stake in Oklo during the 2nd quarter valued at approximately $25,000. Fourth Dimension Wealth LLC lifted its stake in Oklo by 125.0% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock valued at $25,000 after acquiring an additional 250 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in Oklo during the 4th quarter valued at approximately $27,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Oklo during the 2nd quarter valued at approximately $28,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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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