Oklo (NYSE:OKLO) Trading 4.5% Higher - Time to Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price was up 4.5% on Monday . The stock traded as high as $24.37 and last traded at $23.52. Approximately 4,502,382 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 11,753,045 shares. The stock had previously closed at $22.50.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OKLO. B. Riley lifted their target price 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. Craig Hallum assumed coverage on Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price objective for the company. Citigroup dropped their target price on Oklo from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. Wedbush reiterated an "outperform" rating and set a $45.00 price target on shares of Oklo in a report on Tuesday, March 25th. Finally, BTIG Research started coverage on Oklo in a report on Friday, April 11th. They issued 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. According to data from MarketBeat, Oklo presently has an average rating of "Moderate Buy" and a consensus price target of $44.25.

Oklo Stock Up 2.0 %

The company has a market cap of $3.06 billion, a P/E ratio of -2.17 and a beta of -0.01. The firm has a fifty day moving average price of $30.04 and a 200 day moving average price of $26.01.

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

Insider Buying and Selling at Oklo

In other news, Director John M. Jansen purchased 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The shares were bought at an average cost of $24.57 per share, with a total value of $147,420.00. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $147,420. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $889,429.75. Following the completion of the sale, the chief executive officer now owns 11,033,561 shares of the company's stock, valued at approximately $277,494,059.15. This represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company's stock.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently made changes to their positions in OKLO. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $27,000. Sandy Spring Bank bought a new stake in Oklo in the 4th quarter valued at $32,000. CoreCap Advisors LLC acquired a new stake in Oklo during the 4th quarter valued at $32,000. Covestor Ltd bought a new position in Oklo during the fourth quarter worth $34,000. Finally, Anfield Capital Management LLC acquired a new position in shares of Oklo in the fourth quarter valued at $43,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.