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

Oklo Inc. (NYSE:OKLO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $39.73, but opened at $41.33. Oklo shares last traded at $37.64, with a volume of 3,937,117 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on OKLO. Citigroup reaffirmed a “neutral” rating on shares of Oklo in a research note on Wednesday, May 14th. HC Wainwright started coverage on shares of Oklo in a report on Wednesday, April 23rd. They set a “buy” rating and a $55.00 price target for the company. B. Riley raised their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Wedbush set a $45.00 target price on shares of Oklo and gave the stock an “outperform” rating in a research report on Wednesday, May 14th. Finally, BTIG Research started coverage on Oklo in a report on Friday, April 11th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.40.

Oklo Trading Down 3.7%

The stock’s 50 day moving average is $25.69 and its 200 day moving average is $28.01. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of -7.08 and a beta of -0.02.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. On average, sell-side analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

In related news, Director John M. Jansen purchased 6,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was bought at an average cost of $24.57 per share, with a total value of $147,420.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at $147,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 35,365 shares of the 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 sale, the chief executive officer now directly owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. The trade was a 0.32% decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in Oklo in the 4th quarter valued at $27,000. Sandy Spring Bank purchased a new stake in shares of Oklo in the fourth quarter valued at $32,000. CoreCap Advisors LLC acquired a new position in Oklo in the fourth quarter valued at $32,000. Covestor Ltd purchased a new position in Oklo during the fourth quarter worth about $34,000. Finally, KBC Group NV purchased a new position in Oklo during the first quarter worth about $36,000. Hedge funds and other institutional investors 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.