Oklo (NYSE:OKLO) Shares Gap Up – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $75.94, but opened at $80.50. Oklo shares last traded at $76.9860, with a volume of 1,837,754 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKLO. William Blair reiterated an “outperform” rating on shares of Oklo in a research note on Wednesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price target on shares of Oklo in a research report on Wednesday, November 12th. B. Riley increased their price target on shares of Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group assumed coverage on shares of Oklo in a report on Thursday, October 9th. They issued a “buy” rating and a $175.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Oklo currently has a consensus rating of “Hold” and an average price target of $102.87.

Oklo Stock Up 2.8%

The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of -144.54 and a beta of 0.73. The company’s fifty day simple moving average is $114.84 and its 200 day simple moving average is $89.94.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter last year, the business posted ($0.08) EPS. As a group, analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Transactions at Oklo

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction 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 transaction, the chief executive officer owned 9,780,098 shares in the company, valued at $1,097,913,801.48. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the sale, the director directly owned 150,000 shares of the company’s stock, valued at $20,064,000. This represents a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 367,800 shares of company stock worth $42,100,057. Company insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently modified their holdings of OKLO. US Bancorp DE raised its stake in Oklo by 257.1% in the 1st quarter. US Bancorp DE now owns 2,432 shares of the company’s stock worth $53,000 after purchasing an additional 1,751 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Oklo by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company’s stock valued at $94,770,000 after buying an additional 37,718 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Oklo by 161.7% in the first quarter. Deutsche Bank AG now owns 1,748 shares of the company’s stock valued at $38,000 after buying an additional 1,080 shares during the period. Cresset Asset Management LLC grew its position in Oklo by 22.0% during the first quarter. Cresset Asset Management LLC now owns 27,786 shares of the company’s stock worth $601,000 after buying an additional 5,003 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in Oklo by 202.6% during the 1st quarter. Raymond James Financial Inc. now owns 314,794 shares of the company’s stock worth $6,809,000 after acquiring an additional 210,755 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.