Oklo (NYSE:OKLO) Trading Up 6.5% on Analyst Upgrade

Oklo Inc. (NYSE:OKLO) was up 6.5% during trading on Wednesday after B. Riley raised their price target on the stock from $58.00 to $129.00. B. Riley currently has a buy rating on the stock. Oklo traded as high as $116.98 and last traded at $111.0420. Approximately 19,175,570 shares changed hands during trading, an increase of 3% from the average daily volume of 18,615,021 shares. The stock had previously closed at $104.22.

Other research analysts also recently issued reports about the stock. William Blair reissued an “outperform” rating on shares of Oklo in a research report on Wednesday. Canaccord Genuity Group assumed coverage on Oklo in a research note on Thursday, October 9th. They set a “buy” rating and a $175.00 price target for the company. BNP Paribas raised shares of Oklo to a “strong sell” rating in a report on Friday, July 25th. The Goldman Sachs Group began coverage on shares of Oklo in a research note on Thursday, September 25th. They issued a “neutral” rating and a $117.00 target price for the company. Finally, Zacks Research downgraded shares of Oklo from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Oklo currently has an average rating of “Hold” and an average target price of $106.29.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the sale, the chief executive officer directly owned 9,780,098 shares in the company, valued at $1,097,913,801.48. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Craig Bealmear sold 7,622 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $101.44, for a total transaction of $773,175.68. Following the completion of the transaction, the chief financial officer owned 121,913 shares of the company’s stock, valued at approximately $12,366,854.72. The trade was a 5.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 491,387 shares of company stock worth $52,698,580. 18.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Oklo by 33.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after buying an additional 2,901,909 shares during the last quarter. State Street Corp raised its holdings in shares of Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Geode Capital Management LLC lifted its position in Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after purchasing an additional 1,488,482 shares during the period. Hood River Capital Management LLC purchased a new stake in Oklo in the second quarter worth approximately $40,919,000. Finally, Millennium Management LLC grew its position in Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after purchasing an additional 570,532 shares during the period. 85.03% of the stock is owned by institutional investors.

Oklo Stock Performance

The firm has a fifty day moving average price of $121.03 and a two-hundred day moving average price of $79.59. The stock has a market capitalization of $16.39 billion, a P/E ratio of -264.38 and a beta of 0.70.

Oklo (NYSE:OKLO) last released its earnings results on Tuesday, November 11th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter in the prior year, the firm posted ($0.08) earnings per share. On average, research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

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.