Oklo (NYSE:OKLO) Shares Gap Up – Should You Buy?

Oklo Inc. (NYSE:OKLO) gapped up prior to trading on Monday . The stock had previously closed at $63.66, but opened at $67.00. Oklo shares last traded at $70.04, with a volume of 8,669,601 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OKLO shares. William Blair began coverage on shares of Oklo in a research report on Wednesday, May 28th. They issued an “outperform” rating on the stock. Seaport Res Ptn upgraded Oklo from a “hold” rating to a “strong-buy” rating in a report on Monday, June 9th. Wedbush set a $75.00 price target on Oklo and gave the stock an “outperform” rating in a report on Thursday. CLSA upgraded Oklo from an “outperform” rating to a “moderate buy” rating and raised their price objective for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Finally, Citigroup reiterated a “neutral” rating on shares of Oklo in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Oklo Price Performance

The company has a 50 day simple moving average of $35.82 and a 200-day simple moving average of $31.87. The stock has a market capitalization of $9.40 billion, a P/E ratio of -12.45 and a beta of 0.58.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. As a group, equities analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 35,365 shares of the firm’s 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 transaction, the chief executive officer now directly owns 11,033,561 shares of the company’s stock, valued at approximately $277,494,059.15. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John M. Jansen acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at $147,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after buying an additional 2,090,154 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Oklo in the fourth quarter worth approximately $2,209,000. Steward Partners Investment Advisory LLC raised its stake in Oklo by 2,386.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company’s stock valued at $198,000 after purchasing an additional 8,950 shares in the last quarter. Alliancebernstein L.P. bought a new stake in Oklo during the fourth quarter valued at approximately $1,693,000. Finally, Sanctuary Advisors LLC increased its holdings in shares of Oklo by 115.9% in the 4th quarter. Sanctuary Advisors LLC now owns 26,590 shares of the company’s stock worth $565,000 after buying an additional 14,272 shares during the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.