Oklo (NYSE:OKLO) Shares Gap Up - Still a Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $21.93, but opened at $23.88. Oklo shares last traded at $22.74, with a volume of 2,561,689 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OKLO. Citigroup cut their price target on Oklo from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. B. Riley lifted their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a "buy" rating and a $44.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and issued a $45.00 price objective on shares of Oklo in a report on Tuesday, March 25th. Finally, BTIG Research began coverage on shares of Oklo in a report on Friday. They set a "neutral" rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $44.25.

Oklo Price Performance

The firm's 50 day moving average is $32.41 and its 200 day moving average is $25.75. The company has a market cap of $3.13 billion, a PE ratio of -2.22 and a beta of -0.01.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). As a group, analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity

In other news, CEO Jacob Dewitte sold 35,365 shares of Oklo stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total transaction of $889,429.75. Following the completion of the sale, the chief executive officer now directly owns 11,033,561 shares of the company's stock, valued at approximately $277,494,059.15. The trade was a 0.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John M. Jansen bought 6,000 shares of Oklo stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the purchase, the director now owns 6,000 shares of the company's stock, valued at $147,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company's stock.

Institutional Trading of Oklo

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Oklo by 1.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company's stock valued at $104,646,000 after acquiring an additional 74,315 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock worth $92,216,000 after acquiring an additional 2,090,154 shares during the period. Van ECK Associates Corp bought a new position in Oklo in the fourth quarter worth $38,661,000. Atomi Financial Group Inc. purchased a new position in Oklo during the 4th quarter valued at about $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Oklo during the fourth quarter valued at approximately $17,104,000. 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.