Oklo (NYSE:OKLO) Trading Up 11% - Should You Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price traded up 11% during trading on Monday . The company traded as high as $23.41 and last traded at $21.98. 9,883,199 shares were traded during mid-day trading, a decline of 16% from the average session volume of 11,714,197 shares. The stock had previously closed at $19.80.

Analysts Set New Price Targets

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

Oklo Trading Down 1.0 %

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

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

Insider Buying and Selling at Oklo

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

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Oklo by 92.8% during the fourth 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 purchased a new stake in shares of Oklo during the 4th quarter valued at $38,661,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo during the 4th quarter worth $19,285,000. TimesSquare Capital Management LLC purchased a new position in shares of Oklo in the 4th quarter worth about $17,104,000. Finally, Geode Capital Management LLC bought a new position in Oklo during the third quarter valued at about $5,971,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Oklo Company Profile

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.