Oklo (NYSE:OKLO) Trading 6.2% Higher - Time to Buy?

Key Points

• Oklo Inc. shares have increased by 6.2% during mid-day trading, reaching a last traded price of $71.39 after closing at $67.19.
• Wall Street analysts have given Oklo a consensus rating of "Moderate Buy" with an average target price of $63.90, reflected by various ratings including two Strong Buy and six Buy ratings.
• Insider transactions show significant selling activity, with CEO Jacob Dewitte selling 300,000 shares valued at approximately $16.56 million, indicating potential caution among company insiders.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price traded up 6.2% during mid-day trading on Friday . The company traded as high as $70.60 and last traded at $71.39. 6,108,334 shares changed hands during trading, a decline of 66% from the average session volume of 17,960,088 shares. The stock had previously closed at $67.19.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. HC Wainwright boosted their price objective on shares of Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Daiwa Capital Markets raised shares of Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday, July 27th. Craig Hallum downgraded shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a research report on Monday, June 23rd. Wedbush boosted their price objective on shares of Oklo from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Finally, Cantor Fitzgerald set a $73.00 target price on shares of Oklo and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $63.90.

Oklo Stock Performance

The stock has a market capitalization of $10.40 billion, a PE ratio of -167.80 and a beta of 0.60. The stock's 50-day moving average price is $65.45 and its two-hundred day moving average price is $45.20.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results 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). On average, analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total value of $16,560,000.00. Following the transaction, the chief executive officer owned 10,105,098 shares in the company, valued at $557,801,409.60. The trade was a 2.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Stuart Klein sold 150,000 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the transaction, the director owned 250,000 shares in the company, valued at $15,685,000. This represents a 37.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of OKLO. B. Riley Wealth Advisors Inc. bought a new position in shares of Oklo in the 2nd quarter worth approximately $323,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Oklo by 87.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 14,362 shares of the company's stock worth $804,000 after purchasing an additional 6,712 shares during the period. Marex Group plc bought a new position in shares of Oklo in the 2nd quarter worth approximately $17,247,000. Advisory Services Network LLC lifted its stake in shares of Oklo by 23.5% in the 2nd quarter. Advisory Services Network LLC now owns 21,142 shares of the company's stock worth $1,184,000 after purchasing an additional 4,026 shares during the period. Finally, State of Wyoming bought a new position in shares of Oklo in the 2nd quarter worth approximately $200,000. Institutional investors own 85.03% of the company's stock.

Oklo Company Profile

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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