Oklo (NYSE:OKLO) Trading Up 1.7% - Here's Why

Oklo Inc. (NYSE:OKLO - Get Free Report) rose 1.7% during trading on Monday . The stock traded as high as $58.20 and last traded at $57.03. Approximately 6,479,063 shares were traded during trading, a decline of 56% from the average daily volume of 14,672,776 shares. The stock had previously closed at $56.08.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OKLO. Daiwa Capital Markets initiated coverage on shares of Oklo in a research report on Friday, July 11th. They set a "neutral" rating and a $58.00 price target on the stock. Cantor Fitzgerald set a $73.00 price objective on Oklo and gave the stock an "overweight" rating in a research report on Tuesday. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and upped their price target for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Wedbush set a $75.00 price objective on Oklo and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Oklo currently has a consensus rating of "Moderate Buy" and an average price target of $60.25.

Oklo Price Performance

The stock's 50 day simple moving average is $51.38 and its 200-day simple moving average is $37.54. The company has a market capitalization of $9.39 billion, a PE ratio of -12.43 and a beta of 0.57.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Oklo

Several institutional investors have recently modified their holdings of the company. Caldwell Sutter Capital Inc. purchased a new position in Oklo in the second quarter valued at $25,000. ORG Partners LLC increased its holdings in shares of Oklo by 281.0% in the 2nd quarter. ORG Partners LLC now owns 800 shares of the company's stock valued at $41,000 after acquiring an additional 590 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo during the 4th quarter worth about $27,000. SJS Investment Consulting Inc. lifted its stake in Oklo by 205.4% during the second quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the company's stock worth $76,000 after purchasing an additional 908 shares during the last quarter. Finally, CoreCap Advisors LLC acquired a new position in Oklo in the fourth quarter valued at approximately $32,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.