Oklo (NYSE:OKLO) Trading 5.9% Higher on Analyst Upgrade

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price rose 5.9% on Tuesday after CLSA raised their price target on the stock from $50.00 to $74.00. CLSA currently has an outperform rating on the stock. Oklo traded as high as $50.90 and last traded at $51.74. Approximately 18,276,243 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 12,486,375 shares. The stock had previously closed at $48.87.

Several other brokerages also recently weighed in on OKLO. Citigroup reaffirmed a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. Craig Hallum started coverage on Oklo in a report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective on the stock. BTIG Research started coverage on Oklo in a report on Friday, April 11th. They issued a "neutral" rating on the stock. Wedbush boosted their target price on Oklo from $45.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, HC Wainwright began coverage on Oklo in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.67.

Insider Transactions at Oklo

In related news, Director John M. Jansen purchased 6,000 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was acquired at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company's stock, valued at $147,420. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the transaction, the chief executive officer now directly owns 10,852,926 shares of the company's stock, valued at approximately $236,593,786.80. This trade represents a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company's stock.

Institutional Trading of Oklo

Large investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo during the fourth quarter valued at $27,000. Sandy Spring Bank purchased a new position in shares of Oklo in the 4th quarter worth about $32,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo during the 4th quarter valued at about $32,000. Covestor Ltd purchased a new stake in shares of Oklo during the 4th quarter valued at about $34,000. Finally, KBC Group NV acquired a new stake in Oklo during the 1st quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.03% of the company's stock.

Oklo Trading Up 1.7%

The business has a 50 day simple moving average of $27.77 and a two-hundred day simple moving average of $28.87. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of -10.22 and a beta of -0.02.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. Research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

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.