Oklo (NYSE:OKLO) Trading 2.4% Higher – Time to Buy?

by · The Cerbat Gem

Oklo Inc. (NYSE:OKLO – Get Free Report) shares were up 2.4% on Thursday . The company traded as high as $103.42 and last traded at $102.97. Approximately 8,432,916 shares changed hands during trading, a decline of 53% from the average daily volume of 18,121,777 shares. The stock had previously closed at $100.60.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OKLO shares. Citigroup reissued a “neutral” rating on shares of Oklo in a report on Monday, November 24th. B. Riley upped their price objective on shares of Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Canaccord Genuity Group initiated coverage on shares of Oklo in a research note on Thursday, October 9th. They set a “buy” rating and a $175.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Oklo in a research report on Thursday, September 25th. They set a “neutral” rating and a $117.00 price target on the stock. Finally, Seaport Res Ptn upgraded shares of Oklo from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.87.

Read Our Latest Report on Oklo

Oklo Stock Down 14.9%

The firm has a market capitalization of $13.69 billion, a price-to-earnings ratio of -162.28 and a beta of 0.73. The firm’s 50 day moving average is $118.14 and its 200 day moving average is $89.12.

Oklo (NYSE:OKLO – Get Free Report) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period in the previous year, the business posted ($0.08) EPS. On average, sell-side analysts predict that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling

In other news, insider William Carroll Murphy Goodwin sold 5,864 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $88.42, for a total transaction of $518,494.88. Following the completion of the sale, the insider directly owned 13,620 shares of the company’s stock, valued at $1,204,280.40. This represents a 30.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 9,780,098 shares in the company, valued at $1,097,913,801.48. This represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 467,800 shares of company stock valued at $51,531,823. 18.90% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

A number of hedge funds have recently made changes to their positions in OKLO. Plancorp LLC lifted its position in shares of Oklo by 1.2% during the 3rd quarter. Plancorp LLC now owns 6,089 shares of the company’s stock worth $680,000 after purchasing an additional 73 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Oklo by 3.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock worth $293,000 after buying an additional 94 shares during the period. Prestige Wealth Management Group LLC boosted its position in shares of Oklo by 1.5% in the third quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock valued at $789,000 after acquiring an additional 101 shares during the period. Rossby Financial LCC grew its stake in shares of Oklo by 75.0% in the third quarter. Rossby Financial LCC now owns 350 shares of the company’s stock worth $41,000 after acquiring an additional 150 shares during the last quarter. Finally, Perennial Investment Advisors LLC increased its position in Oklo by 3.4% during the third quarter. Perennial Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $522,000 after acquiring an additional 154 shares during the period. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Company Profile

(Get Free Report)

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.

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