Oklo (NYSE:OKLO) Trading 2.6% Higher – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price rose 2.6% during trading on Monday . The stock traded as high as $51.95 and last traded at $51.59. Approximately 5,140,803 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 13,139,289 shares. The stock had previously closed at $50.29.

Analyst Ratings Changes

A number of analysts have issued reports on the company. HC Wainwright initiated coverage on Oklo in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 price target on the stock. Wedbush increased 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, May 23rd. Citigroup restated a “neutral” rating on shares of Oklo in a report on Wednesday, May 14th. CLSA raised shares of Oklo from an “outperform” rating to a “moderate buy” rating and increased their price target for the stock from $50.00 to $74.00 in a research note on Tuesday, May 27th. Finally, BTIG Research started coverage on shares of Oklo in a report on Friday, April 11th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

Oklo Stock Performance

The stock has a 50 day moving average of $31.89 and a two-hundred day moving average of $30.54. The stock has a market cap of $7.30 billion, a PE ratio of -9.74 and a beta of 0.58.

Oklo (NYSE:OKLO) last announced 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 expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 35,365 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $25.15, for a total value of $889,429.75. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John M. Jansen bought 6,000 shares of Oklo stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average price of $24.57 per share, with a total value of $147,420.00. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at $147,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Hedge funds have recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Oklo by 5.7% in the fourth quarter. Barclays PLC now owns 7,666 shares of the company’s stock valued at $163,000 after buying an additional 416 shares during the last quarter. Signaturefd LLC grew its stake in shares of Oklo by 5.4% during the first quarter. Signaturefd LLC now owns 8,962 shares of the company’s stock valued at $194,000 after purchasing an additional 462 shares during the last quarter. Spire Wealth Management increased its holdings in shares of 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 in the last quarter. Intrua Financial LLC raised its position in Oklo by 4.2% in the 1st quarter. Intrua Financial LLC now owns 13,375 shares of the company’s stock worth $289,000 after purchasing an additional 535 shares during the last quarter. Finally, Ancora Advisors LLC lifted its holdings in Oklo by 18.2% during the 4th quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock worth $98,000 after buying an additional 710 shares in the last quarter. Institutional investors and hedge funds 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.