Oklo (NYSE:OKLO) Trading Up 3.7% - Still a Buy?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) were up 3.7% on Friday . The stock traded as high as $62.10 and last traded at $57.92. Approximately 14,884,931 shares traded hands during trading, an increase of 5% from the average daily volume of 14,177,992 shares. The stock had previously closed at $55.85.

Analysts Set New Price Targets

OKLO has been the subject of several recent analyst reports. HC Wainwright initiated coverage on Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target for the company. Wedbush set a $75.00 target price on Oklo and gave the stock an "outperform" rating in a research note on Thursday, June 12th. William Blair began coverage on shares of Oklo in a report on Wednesday, May 28th. They set an "outperform" rating on the stock. Craig Hallum cut shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target for the company. in a report on Monday. Finally, Citigroup restated a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Oklo has an average rating of "Moderate Buy" and a consensus target price of $58.50.

Oklo Price Performance

The stock's 50-day moving average price is $42.53 and its 200 day moving average price is $34.11. The firm has a market cap of $7.93 billion, a P/E ratio of -10.52 and a beta of 0.58.

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

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 41,000 shares of Oklo stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the completion of the transaction, the chief executive officer now owns 10,852,926 shares of the company's stock, valued at $236,593,786.80. This trade represents a 0.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction dated 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 completion of the sale, the director now directly owns 200,000 shares in the company, valued at approximately $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 341,000 shares of company stock worth $19,400,300. Corporate insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds and other institutional investors have recently bought and sold shares of OKLO. Rhumbline Advisers bought a new stake in Oklo in the first quarter valued at approximately $65,000. Intrua Financial LLC increased its holdings in shares of Oklo by 4.2% during the 1st quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock worth $289,000 after acquiring an additional 535 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Oklo by 24.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 36,973 shares of the company's stock valued at $800,000 after acquiring an additional 7,352 shares during the period. Flaharty Asset Management LLC bought a new stake in Oklo in the 1st quarter valued at $54,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Oklo by 90.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock valued at $2,439,000 after purchasing an additional 53,703 shares during the last quarter. 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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