Oklo (NYSE:OKLO) Trading Up 2.4% – Still a Buy?

by · The Markets Daily

Oklo Inc. (NYSE:OKLO – Get Free Report)’s share price traded up 2.4% during mid-day trading on Thursday . The company traded as high as $103.42 and last traded at $102.97. 8,432,916 shares were traded during mid-day trading, a decline of 53% from the average session volume of 18,121,777 shares. The stock had previously closed at $100.60.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OKLO. Citigroup restated a “neutral” rating on shares of Oklo in a report on Monday, November 24th. UBS Group boosted their target price on Oklo from $65.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a research report on Wednesday, October 8th. The Goldman Sachs Group began coverage on Oklo in a research note on Thursday, September 25th. They issued a “neutral” rating and a $117.00 price objective for the company. Finally, B. Riley boosted their price objective on Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $102.87.

Check Out Our Latest Research Report on Oklo

Oklo Stock Performance

The company’s 50-day simple moving average is $119.46 and its 200 day simple moving average is $88.76. The company has a market cap of $16.09 billion, a PE ratio of -190.69 and a beta of 0.73.

Oklo (NYSE:OKLO – Get Free Report) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter last year, the business posted ($0.08) earnings per share. Analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total value of $33,678,000.00. Following the completion of the transaction, the chief executive officer owned 9,780,098 shares in the company, valued at approximately $1,097,913,801.48. This trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the sale, the director owned 150,000 shares in the company, valued at $20,064,000. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 467,800 shares of company stock worth $51,531,823 over the last 90 days. 18.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Oklo during the 3rd quarter worth $114,000. Allworth Financial LP raised its stake in Oklo by 10.1% in the third quarter. Allworth Financial LP now owns 2,585 shares of the company’s stock valued at $289,000 after buying an additional 238 shares in the last quarter. IFP Advisors Inc lifted its holdings in Oklo by 100.9% during the 3rd quarter. IFP Advisors Inc now owns 5,652 shares of the company’s stock worth $631,000 after buying an additional 2,839 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new position in shares of Oklo during the 3rd quarter worth about $535,000. Finally, Strategic Advocates LLC purchased a new position in shares of Oklo in the 3rd quarter valued at about $43,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Company Profile

(Get Free Report)

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.

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