Oklo (NYSE:OKLO) Trading 4.9% Higher – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s share price shot up 4.9% during mid-day trading on Friday . The stock traded as high as $112.70 and last traded at $112.02. 16,235,660 shares traded hands during trading, a decline of 13% from the average session volume of 18,676,549 shares. The stock had previously closed at $106.75.

Analyst Ratings Changes

A number of research firms have recently commented on OKLO. Daiwa America upgraded Oklo from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 27th. Zacks Research lowered shares of Oklo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. UBS Group set a $175.00 target price on Oklo in a research note on Thursday, October 9th. Wedbush boosted their price target on shares of Oklo from $80.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, BNP Paribas Exane started coverage on Oklo in a report on Friday, July 25th. They issued an “underperform” rating and a $14.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.14.

Oklo Stock Performance

The stock has a 50-day moving average of $118.89 and a 200 day moving average of $76.99. The firm has a market capitalization of $16.54 billion, a P/E ratio of -266.71 and a beta of 0.70.

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

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 9,780,098 shares in the company, valued at approximately $1,097,913,801.48. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the transaction, the director owned 150,000 shares of the company’s stock, valued at $20,064,000. This trade represents a 25.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 491,387 shares of company stock valued at $52,698,580. 18.90% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caldwell Sutter Capital Inc. purchased a new position in shares of Oklo during the second quarter worth approximately $25,000. Private Trust Co. NA purchased a new stake in shares of Oklo in the second quarter valued at $25,000. Fourth Dimension Wealth LLC raised its holdings in Oklo by 125.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after acquiring an additional 250 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of Oklo during the 3rd quarter valued at $27,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Oklo during the second quarter valued at approximately $28,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.