Oklo (NYSE:OKLO) Trading Up 5% – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s stock price shot up 5% during mid-day trading on Wednesday . The stock traded as high as $97.00 and last traded at $96.4680. Approximately 7,914,603 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 18,291,258 shares. The stock had previously closed at $91.84.

Analysts Set New Price Targets

Several research firms have recently weighed in on OKLO. William Blair reissued an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of Oklo in a research report on Wednesday, November 12th. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Citigroup restated a “neutral” rating on shares of Oklo in a report on Monday, November 24th. Finally, BTIG Research reiterated a “neutral” rating on shares of Oklo in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $100.57.

Oklo Price Performance

The stock’s 50-day moving average price is $121.11 and its 200 day moving average price is $86.43. The firm has a market capitalization of $15.07 billion, a PE ratio of -178.64 and a beta of 0.73.

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

Insider Buying and Selling at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the sale, the director owned 150,000 shares in the company, valued at approximately $20,064,000. The trade was a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 5,864 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $88.42, for a total transaction of $518,494.88. Following the completion of the sale, the insider directly owned 13,620 shares of the company’s stock, valued at $1,204,280.40. The trade was a 30.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 509,187 shares of company stock valued at $54,432,638 in the last ninety days. 18.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently bought and sold shares of OKLO. Vanguard Group Inc. boosted its position in Oklo by 33.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after acquiring an additional 2,901,909 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after purchasing an additional 2,968,981 shares during the last quarter. Van ECK Associates Corp boosted its position in Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after purchasing an additional 1,316,867 shares in the last quarter. Geode Capital Management LLC boosted 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 in the last quarter. Finally, State Street Corp grew its stake in Oklo by 454.5% in 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. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.