Oklo (NYSE:OKLO) Shares Up 9.6% - Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) rose 9.6% during trading on Wednesday . The stock traded as high as $24.24 and last traded at $23.59. Approximately 9,480,690 shares changed hands during trading, a decline of 19% from the average daily volume of 11,659,104 shares. The stock had previously closed at $21.53.

Analysts Set New Price Targets

Several brokerages have recently commented on OKLO. Citigroup decreased their price target on Oklo from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Wedbush reaffirmed an "outperform" rating and set a $45.00 price objective on shares of Oklo in a research report on Tuesday, March 25th. HC Wainwright assumed coverage on Oklo in a research report on Wednesday. They issued a "buy" rating and a $55.00 target price on the stock. BTIG Research initiated coverage on Oklo in a research note on Friday, April 11th. They set a "neutral" rating on the stock. Finally, Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Oklo has an average rating of "Moderate Buy" and a consensus price target of $46.40.

Oklo Stock Down 2.4 %

The firm has a market cap of $3.30 billion, a PE ratio of -2.34 and a beta of -0.01. The business has a 50-day moving average price of $26.45 and a two-hundred day moving average price of $26.53.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). On average, equities research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John M. Jansen acquired 6,000 shares of the business's stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $24.57 per share, with a total value of $147,420.00. Following the completion of the acquisition, the director now owns 6,000 shares in the company, valued at $147,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jacob Dewitte sold 41,000 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $21.80, for a total transaction of $893,800.00. Following the sale, the chief executive officer now owns 10,852,926 shares of the company's stock, valued at $236,593,786.80. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV acquired a new position in shares of Oklo in the 1st quarter valued at $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Oklo in the first quarter valued at about $413,000. Spire Wealth Management raised its holdings in shares of Oklo by 14.1% in the first quarter. Spire Wealth Management now owns 3,896 shares of the company's stock valued at $84,000 after buying an additional 481 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Oklo during the first quarter worth about $411,000. Finally, Vantage Point Financial LLC increased its position in Oklo by 63.8% in the 1st quarter. Vantage Point Financial LLC now owns 16,053 shares of the company's stock valued at $347,000 after acquiring an additional 6,253 shares during the period. Institutional investors and hedge funds 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.