Oklo (NYSE:OKLO) Stock Price Up 29.8% After Analyst Upgrade

Oklo Inc. (NYSE:OKLO)’s stock price rose 29.8% 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. Oklo traded as high as $50.92 and last traded at $51.57. Approximately 44,940,633 shares changed hands during trading, an increase of 267% from the average daily volume of 12,247,501 shares. The stock had previously closed at $39.72.

Other analysts also recently issued research reports about the stock. Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Wednesday, May 14th. Craig Hallum initiated coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. HC Wainwright initiated coverage on shares of Oklo in a research report on Wednesday, April 23rd. They set a “buy” rating and a $55.00 target price on the stock. B. Riley boosted their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, BTIG Research started coverage on shares of Oklo in a research note on Friday, April 11th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.40.

Insider Buying and Selling at Oklo

In other Oklo news, Director John M. Jansen acquired 6,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was acquired at an average cost 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 approximately $147,420. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the transaction, the chief executive officer now owns 10,852,926 shares of the company’s stock, valued at approximately $236,593,786.80. This represents a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of large investors have recently modified their holdings of the business. Barclays PLC grew its holdings in shares of Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company’s stock worth $163,000 after buying an additional 416 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Oklo by 5.4% in the first quarter. Signaturefd LLC now owns 8,962 shares of the company’s stock valued at $194,000 after purchasing an additional 462 shares during the period. Spire Wealth Management grew its holdings in shares of Oklo by 14.1% in the first quarter. Spire Wealth Management now owns 3,896 shares of the company’s stock valued at $84,000 after purchasing an additional 481 shares during the period. Ancora Advisors LLC grew its holdings in shares of Oklo by 18.2% in the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock valued at $98,000 after purchasing an additional 710 shares during the period. Finally, Sowell Financial Services LLC grew its holdings in shares of Oklo by 5.4% in the first quarter. Sowell Financial Services LLC now owns 15,275 shares of the company’s stock valued at $330,000 after purchasing an additional 782 shares during the period. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Price Performance

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

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. On average, sell-side analysts expect that Oklo Inc. will post -8.2 EPS 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.