Oklo (NYSE:OKLO) Stock Price Up 4.3% Following Analyst Upgrade

Oklo Inc. (NYSE:OKLO) shares rose 4.3% during trading on Tuesday after Wedbush raised their price target on the stock from $75.00 to $80.00. Wedbush currently has an outperform rating on the stock. Oklo traded as high as $74.66 and last traded at $74.98. Approximately 7,714,842 shares changed hands during trading, a decline of 58% from the average daily volume of 18,186,309 shares. The stock had previously closed at $71.86.

OKLO has been the subject of several other reports. BNP Paribas Exane initiated coverage on Oklo in a research note on Friday, July 25th. They set an “underperform” rating and a $14.00 target price for the company. Daiwa Capital Markets raised Oklo from a “neutral” rating to an “outperform” rating in a research note on Sunday, July 27th. Citigroup lifted their price target on Oklo from $30.00 to $68.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. BTIG Research reaffirmed a “neutral” rating on shares of Oklo in a report on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Oklo in a report on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.78.

Insider Activity

In other news, CEO Jacob Dewitte sold 300,000 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $55.20, for a total value of $16,560,000.00. Following the completion of the sale, the chief executive officer directly owned 10,105,098 shares of the company’s stock, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the business’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $54.85, for a total value of $2,742,500.00. Following the completion of the sale, the director directly owned 200,000 shares of the company’s stock, valued at $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 600,000 shares of company stock valued at $35,066,500 over the last three months. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. purchased a new stake in Oklo during the 4th quarter valued at approximately $1,693,000. OneDigital Investment Advisors LLC purchased a new stake in Oklo during the 1st quarter valued at approximately $229,000. Cambridge Investment Research Advisors Inc. raised its stake in Oklo by 66.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 68,577 shares of the company’s stock valued at $1,483,000 after acquiring an additional 27,458 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Oklo during the 1st quarter valued at approximately $413,000. Finally, Spire Wealth Management raised its stake in Oklo by 14.1% during the 1st quarter. Spire Wealth Management now owns 3,896 shares of the company’s stock valued at $84,000 after acquiring an additional 481 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Trading Up 9.5%

The company has a 50 day simple moving average of $63.37 and a 200 day simple moving average of $43.70. The stock has a market capitalization of $10.98 billion, a PE ratio of -187.40 and a beta of 0.60.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, equities research analysts predict that Oklo Inc. will post -8.2 EPS 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.