Oklo (NYSE:OKLO) Trading Up 0.2% – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s stock price shot up 0.2% during mid-day trading on Monday . The stock traded as high as $25.25 and last traded at $23.78. 2,966,641 shares changed hands during trading, a decline of 74% from the average session volume of 11,623,730 shares. The stock had previously closed at $23.74.

Analysts Set New Price Targets

OKLO has been the subject of several recent research reports. B. Riley upped their price target on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Craig Hallum started coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. Citigroup reduced their price objective on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. BTIG Research initiated coverage on shares of Oklo in a research report on Friday, April 11th. They set a “neutral” rating on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Oklo in a report on Tuesday, March 25th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.40.

Oklo Price Performance

The company’s fifty day simple moving average is $26.45 and its 200 day simple moving average is $26.77. The firm has a market capitalization of $3.28 billion, a PE ratio of -2.32 and a beta of -0.01.

Oklo (NYSE:OKLO) last posted its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). On average, analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 41,000 shares of Oklo stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 10,852,926 shares of the company’s stock, valued at approximately $236,593,786.80. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John M. Jansen acquired 6,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of $24.57 per share, with a total value of $147,420.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at $147,420. This represents 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 Investors Weigh In On Oklo

A number of large investors have recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. boosted its holdings in Oklo by 623.6% in the first quarter. Vermillion Wealth Management Inc. now owns 3,618 shares of the company’s stock valued at $78,000 after acquiring an additional 3,118 shares in the last quarter. KBC Group NV bought a new position in Oklo in the first quarter worth about $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Oklo in the first quarter worth about $413,000. Spire Wealth Management boosted its position 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 in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Oklo in the 1st quarter worth approximately $411,000. Institutional investors own 85.03% of the company’s stock.

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.