Oklo (NYSE:OKLO) Reaches New 12-Month High on Analyst Upgrade

Oklo Inc. (NYSE:OKLO) shares hit a new 52-week high on Friday after Wedbush raised their price target on the stock from $55.00 to $75.00. Wedbush currently has an outperform rating on the stock. Oklo traded as high as $71.00 and last traded at $64.32, with a volume of 37910095 shares trading hands. The stock had previously closed at $68.03.

Other equities research analysts have also issued reports about the company. CLSA upgraded Oklo from an “outperform” rating to a “moderate buy” rating and upped their price objective for the stock from $50.00 to $74.00 in a research note on Tuesday, May 27th. BTIG Research assumed coverage on Oklo in a research note on Friday, April 11th. They issued a “neutral” rating for the company. William Blair assumed coverage on Oklo in a research note on Wednesday, May 28th. They issued an “outperform” rating for the company. Citigroup restated a “neutral” rating on shares of Oklo in a research note on Wednesday, May 14th. Finally, Seaport Res Ptn upgraded Oklo from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Insider Buying and Selling

In related news, Director John M. Jansen acquired 6,000 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was acquired at an average price of $24.57 per share, with a total value of $147,420.00. Following the acquisition, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $147,420. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 41,000 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $21.80, for a total transaction of $893,800.00. Following the transaction, the chief executive officer now directly owns 10,852,926 shares of the company’s stock, valued at $236,593,786.80. This trade 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 insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. bought a new position in shares of Oklo during the 4th quarter valued at about $27,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo during the 4th quarter valued at about $32,000. Sandy Spring Bank purchased a new stake in shares of Oklo during the 4th quarter valued at about $32,000. Covestor Ltd purchased a new stake in shares of Oklo during the 4th quarter valued at about $34,000. Finally, KBC Group NV purchased a new stake in shares of Oklo during the 1st quarter valued at about $36,000. Institutional investors own 85.03% of the company’s stock.

Oklo Trading Down 1.2%

The firm’s 50-day moving average price is $35.82 and its 200-day moving average price is $31.80. The stock has a market capitalization of $8.87 billion, a PE ratio of -11.77 and a beta of 0.58.

Oklo (NYSE:OKLO) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. On average, equities research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

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.