Oklo (NYSE:OKLO) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Oklo Inc. (NYSE:OKLO) saw unusually-strong trading volume on Friday after Wedbush raised their price target on the stock from $45.00 to $55.00. Wedbush currently has an outperform rating on the stock. Approximately 31,599,387 shares were traded during trading, an increase of 159% from the previous session’s volume of 12,200,636 shares.The stock last traded at $49.90 and had previously closed at $39.72.

OKLO has been the topic of a number of other reports. Citigroup reaffirmed a “neutral” rating on shares of Oklo in a report on Wednesday, May 14th. BTIG Research began coverage on shares of Oklo in a report on Friday, April 11th. They issued a “neutral” rating on the stock. B. Riley upped their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Finally, HC Wainwright began coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.40.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 35,365 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $25.15, for a total value of $889,429.75. Following the transaction, the chief executive officer now owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. This represents a 0.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John M. Jansen purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the purchase, the director now owns 6,000 shares in the company, valued at $147,420. The trade was 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OKLO. TD Waterhouse Canada Inc. acquired a new position in Oklo in the 4th quarter valued at about $27,000. Sandy Spring Bank acquired a new position in Oklo in the 4th quarter valued at about $32,000. CoreCap Advisors LLC acquired a new position in Oklo in the 4th quarter valued at about $32,000. Covestor Ltd acquired a new position in shares of Oklo during the 4th quarter worth approximately $34,000. Finally, KBC Group NV acquired a new position in shares of Oklo during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Trading Up 23.6%

The stock’s 50-day simple moving average is $26.83 and its 200-day simple moving average is $28.46. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of -9.08 and a beta of -0.02.

Oklo (NYSE:OKLO) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. On average, equities research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

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.