Oklo (NYSE:OKLO) Trading Up 5.9% Following Analyst Upgrade

Oklo Inc. (NYSE:OKLO) rose 5.9% during mid-day trading 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 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 research analysts also recently weighed in on OKLO. Wedbush upped their price objective on shares of Oklo from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup restated a “neutral” rating on shares of Oklo in a report on Wednesday, May 14th. Craig Hallum started coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. BTIG Research started coverage on shares of Oklo in a report on Friday, April 11th. They issued a “neutral” rating for the company. Finally, HC Wainwright started coverage on shares of Oklo in a report 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 five have given a buy rating to the company’s stock. Based on data from MarketBeat, Oklo has an average rating of “Moderate Buy” and a consensus target price of $52.67.

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 35,365 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $25.15, for a total transaction 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 represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John M. Jansen purchased 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The shares were acquired at an average cost of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. purchased a new stake in Oklo during the 4th quarter valued at approximately $27,000. Sandy Spring Bank purchased a new stake in Oklo during the 4th quarter valued at approximately $32,000. CoreCap Advisors LLC purchased a new stake in Oklo during the 4th quarter valued at approximately $32,000. Covestor Ltd purchased a new stake in Oklo during the 4th quarter valued at approximately $34,000. Finally, KBC Group NV purchased a new stake in Oklo during the 1st quarter valued at approximately $36,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Stock Performance

The business’s fifty day simple moving average is $27.25 and its 200-day simple moving average is $28.70. The firm has a market capitalization of $7.51 billion, a PE ratio of -9.97 and a beta of -0.02.

Oklo (NYSE:OKLO) last announced 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. Sell-side analysts expect that Oklo Inc. will post -8.2 earnings per share 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.