Oklo (NYSE:OKLO) Trading 7.7% Higher - Time to Buy?

Key Points

• Shares of Oklo Inc. (NYSE:OKLO) increased by 7.7% during mid-day trading, reaching a high of $78.83.
• Analysts have upgraded Oklo's stock ratings, with targets ranging from $74.00 to $90.00, indicating a general sentiment of growth expectations.
• Insider trading reports reveal significant stock sales, with the director and CEO selling a combined 450,000 shares, potentially impacting investor sentiment.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) shot up 7.7% on Thursday . The stock traded as high as $77.98 and last traded at $78.83. 5,229,084 shares changed hands during trading, a decline of 71% from the average session volume of 17,874,281 shares. The stock had previously closed at $73.20.

Analyst Ratings Changes

Several analysts recently issued reports on OKLO shares. BNP Paribas Exane initiated coverage on shares of Oklo in a report on Friday, July 25th. They issued an "underperform" rating and a $14.00 price objective on the stock. Craig Hallum cut shares of 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. HC Wainwright upped their target price 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. CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and upped their target price for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. Finally, Bank of America initiated coverage on shares of Oklo in a research report on Tuesday, August 26th. They issued a "buy" rating and a $92.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.45.

Oklo Price Performance

The company has a market capitalization of $10.89 billion, a PE ratio of -175.60 and a beta of 0.59. The stock's 50 day simple moving average is $66.79 and its 200-day simple moving average is $46.02.

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

Insider Buying and Selling

In related news, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 200,000 shares in the company, valued at approximately $10,970,000. This represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the company'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 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. The trade was 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 90 days. Insiders own 18.90% of the company's stock.

Institutional Trading of Oklo

A number of large investors have recently made changes to their positions in OKLO. OneDigital Investment Advisors LLC purchased a new position in Oklo in the first quarter valued at approximately $229,000. Cambridge Investment Research Advisors Inc. increased its stake in Oklo by 66.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 68,577 shares of the company's stock valued at $1,483,000 after purchasing an additional 27,458 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Oklo in the first quarter valued at approximately $413,000. Spire Wealth Management increased its stake in Oklo by 14.1% in the first quarter. Spire Wealth Management now owns 3,896 shares of the company's stock valued at $84,000 after purchasing an additional 481 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Oklo in the first quarter valued at approximately $254,000. 85.03% of the stock is currently 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.