Oklo (NYSE:OKLO) Shares Gap Up – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s share price gapped up before the market opened 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 Ratings Changes

Several equities research analysts have issued reports on OKLO shares. Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Oklo in a research note on Tuesday, March 25th. Citigroup cut their target price 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 boosted their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Oklo has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Trading Down 2.8 %

The company has a market capitalization of $2.96 billion, a P/E ratio of -2.14 and a beta of -0.01. The stock’s fifty day moving average is $34.65 and its 200 day moving average is $25.40.

Oklo (NYSE:OKLO) last posted its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). On average, analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 35,365 shares of the firm’s stock in a transaction dated 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 directly owns 11,033,561 shares in the company, valued at $277,494,059.15. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John M. Jansen bought 6,000 shares of Oklo stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. bought a new position in shares of Oklo during the fourth quarter valued at approximately $27,000. Sandy Spring Bank bought a new position in Oklo during the 4th quarter valued at approximately $32,000. CoreCap Advisors LLC bought a new stake in Oklo in the fourth quarter worth $32,000. Covestor Ltd purchased a new stake in shares of Oklo in the fourth quarter worth $34,000. Finally, Anfield Capital Management LLC bought a new position in shares of Oklo during the fourth quarter valued at $43,000. 85.03% of the stock is currently owned by institutional investors.

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.