Oklo (NYSE:OKLO) Shares Up 29.4% - Should You Buy?

Key Points

• Oklo Inc. shares surged 29.4% during Friday's trading, reaching a high of $136.53, significantly above its previous close of $104.97.
• A number of analysts have issued price targets for Oklo, with HC Wainwright setting the highest target at $90.00, while the average consensus target price is $66.45.
• Insiders have sold 391,387 shares of Oklo stock valued at over $22 million in the last quarter, indicating possible confidence concerns among company leadership.

Oklo Inc. (NYSE:OKLO - Get Free Report) was up 29.4% during trading on Friday . The company traded as high as $136.53 and last traded at $135.88. Approximately 62,836,193 shares traded hands during mid-day trading, an increase of 250% from the average daily volume of 17,975,951 shares. The stock had previously closed at $104.97.

Analysts Set New Price Targets

Several research analysts have weighed in on OKLO shares. Craig Hallum lowered Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price on the stock. in a research report on Monday, June 23rd. BNP Paribas Exane assumed coverage on Oklo in a report on Friday, July 25th. They issued an "underperform" rating and a $14.00 price objective on the stock. HC Wainwright raised 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. BTIG Research reissued a "neutral" rating on shares of Oklo in a research report on Tuesday, August 12th. Finally, Cantor Fitzgerald set a $73.00 price target on shares of Oklo and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Oklo has a consensus rating of "Moderate Buy" and an average target price of $72.82.

Oklo Price Performance

The business has a 50 day moving average price of $75.63 and a 200 day moving average price of $50.92.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, research analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Carroll Murphy Goodwin sold 41,387 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the firm'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 value of $16,560,000.00. Following the completion of the sale, the chief executive officer owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 441,387 shares of company stock worth $28,892,580 in the last ninety days. Insiders own 18.90% of the company's stock.

Institutional Trading of Oklo

Several institutional investors have recently made changes to their positions in the business. Caldwell Sutter Capital Inc. bought a new position in Oklo during the second quarter worth about $25,000. Private Trust Co. NA bought a new stake in shares of Oklo in the 2nd quarter valued at approximately $25,000. Fourth Dimension Wealth LLC raised its holdings in shares of Oklo by 125.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after buying an additional 250 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Oklo during the 2nd quarter worth approximately $28,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Oklo by 107.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after buying an additional 305 shares in the last quarter. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.