Oklo (NYSE:OKLO) Trading 7.2% Higher - Here's Why

Key Points

• Oklo Inc. shares rose by 7.2% during mid-day trading, reaching a high of $78.35 before closing at $76.65, despite a significant decline in trading volume.
• Analysts have divergent views on Oklo, with a consensus rating of “Moderate Buy” and a target price of $59.33, while BNP Paribas Exane has issued an "underperform" rating with a $14.00 target.
• Recent insider trading activity includes Director Michael Stuart Klein selling 150,000 shares for about $9.4 million and CEO Jacob Dewitte selling 300,000 shares valued at $16.56 million.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded up 7.2% during mid-day trading on Monday . The company traded as high as $78.35 and last traded at $76.65. 8,208,545 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 18,259,775 shares. The stock had previously closed at $71.49.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OKLO shares. BNP Paribas Exane started coverage on Oklo in a report on Friday, July 25th. They issued an "underperform" rating and a $14.00 price objective for the company. HC Wainwright started coverage on Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price objective for the company. Cantor Fitzgerald set a $73.00 price objective on Oklo and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Citigroup upped their price objective on Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and increased their target price for the company from $50.00 to $74.00 in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.33.

Oklo Stock Up 8.2%

The company has a market cap of $10.79 billion, a P/E ratio of -14.25 and a beta of 0.60. The company has a fifty day moving average of $59.73 and a 200 day moving average of $41.56.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. As a group, research analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

In other news, Director Michael Stuart Klein sold 150,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $62.74, for a total value of $9,411,000.00. Following the transaction, the director directly owned 250,000 shares in the company, valued at $15,685,000. The trade was a 37.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $55.20, for a total value of $16,560,000.00. Following the completion of the sale, the chief executive officer owned 10,105,098 shares in the company, 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 have sold 600,000 shares of company stock worth $35,066,500 over the last quarter. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Large investors have recently added to or reduced their stakes in the stock. MRA Advisory Group grew its stake in Oklo by 2.8% in the second 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 grew its stake in Oklo by 5.7% in the fourth 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 bought a new position in Oklo in the second quarter worth approximately $25,000. Caldwell Sutter Capital Inc. purchased a new stake in Oklo during the second quarter worth $25,000. Finally, Signaturefd LLC lifted its holdings in Oklo by 5.4% during the first quarter. Signaturefd LLC now owns 8,962 shares of the company's stock worth $194,000 after buying an additional 462 shares during the period. 85.03% of the stock is owned by 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.

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