Oklo (NYSE:OKLO) Trading Up 6.5% After Analyst Upgrade

Oklo Inc. (NYSE:OKLO) was up 6.5% on Wednesday after B. Riley raised their price target on the stock from $58.00 to $129.00. B. Riley currently has a buy rating on the stock. Oklo traded as high as $116.98 and last traded at $111.0420. Approximately 19,175,570 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 18,615,021 shares. The stock had previously closed at $104.22.

Several other research firms have also commented on OKLO. Canaccord Genuity Group began coverage on shares of Oklo in a report on Thursday, October 9th. They issued a “buy” rating and a $175.00 price target for the company. BNP Paribas raised shares of Oklo to a “strong sell” rating in a research note on Friday, July 25th. Seaport Res Ptn lowered Oklo from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. UBS Group set a $175.00 target price on Oklo in a research report on Thursday, October 9th. Finally, Citigroup lifted their price target on Oklo from $30.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $106.29.

Insider Activity

In other Oklo news, insider William Carroll Murphy Goodwin sold 41,387 shares of Oklo stock in a transaction on Friday, September 5th. The shares were sold at an average price of $70.09, for a total value of $2,900,814.83. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Richard Craig Bealmear sold 92,378 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total value of $8,658,589.94. Following the sale, the chief financial officer owned 75,738 shares of the company’s stock, valued at approximately $7,098,922.74. This represents a 54.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 491,387 shares of company stock worth $52,698,580. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Oklo by 33.4% in the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after acquiring an additional 2,901,909 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Oklo by 195.9% in the 2nd 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 during the last quarter. State Street Corp boosted its stake in Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after purchasing an additional 1,752,946 shares in the last quarter. Compound Planning Inc. grew its position in Oklo by 6.2% during the 1st quarter. Compound Planning Inc. now owns 964,827 shares of the company’s stock worth $20,869,000 after purchasing an additional 56,437 shares during the last quarter. Finally, Portland Investment Counsel Inc. increased its stake in Oklo by 0.6% during the 1st quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company’s stock valued at $17,358,000 after purchasing an additional 5,000 shares in the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo Stock Performance

The stock’s 50 day simple moving average is $121.81 and its 200-day simple moving average is $79.81. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of -205.63 and a beta of 0.70.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, November 11th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter in the previous year, the firm earned ($0.08) EPS. On average, 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.