Oklo (NYSE:OKLO) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Oklo (NYSE:OKLO - Free Report) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. HC Wainwright started coverage on Oklo in a research note on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price target on the stock. Wedbush increased their target price on Oklo from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. William Blair assumed coverage on Oklo in a report on Wednesday, May 28th. They issued an "outperform" rating for the company. BTIG Research began coverage on shares of Oklo in a report on Friday, April 11th. They set a "neutral" rating on the stock. Finally, CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and increased their target price for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.67.

Oklo Stock Down 3.3%

Shares of Oklo stock traded down $1.81 during trading on Monday, hitting $52.45. 14,748,799 shares of the company were exchanged, compared to its average volume of 13,180,844. The firm has a 50 day moving average price of $32.53 and a 200 day moving average price of $30.75. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of -9.69 and a beta of 0.58. Oklo has a fifty-two week low of $5.35 and a fifty-two week high of $59.14.

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

Insider Transactions at Oklo

In other Oklo news, CEO Jacob Dewitte sold 35,365 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total value of $889,429.75. Following the completion of the sale, the chief executive officer now owns 11,033,561 shares of the company's stock, valued at $277,494,059.15. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Jansen acquired 6,000 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were purchased at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the purchase, the director now directly owns 6,000 shares of the company's stock, valued at approximately $147,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Stratos Wealth Partners LTD. purchased a new stake in Oklo during the 4th quarter worth $280,000. Van ECK Associates Corp acquired a new stake in shares of Oklo during the fourth quarter valued at about $38,661,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Oklo during the fourth quarter worth about $240,000. Palumbo Wealth Management LLC acquired a new position in shares of Oklo in the fourth quarter worth about $220,000. Finally, Tcfg Wealth Management LLC acquired a new position in shares of Oklo in the fourth quarter worth about $450,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

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.