Oklo (NYSE:OKLO) Stock Price Up 4.9% – Time to Buy?

Oklo Inc. (NYSE:OKLO) traded up 4.9% on Friday . The stock traded as high as $112.70 and last traded at $112.02. 16,235,660 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 18,676,549 shares. The stock had previously closed at $106.75.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. HC Wainwright raised their target price on Oklo from $55.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. UBS Group set a $175.00 target price on Oklo in a research report on Thursday, October 9th. Citigroup upped their target price on Oklo from $30.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Zacks Research downgraded Oklo from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, BNP Paribas upgraded Oklo to a “strong sell” rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.14.

Oklo Price Performance

The firm has a market capitalization of $16.54 billion, a P/E ratio of -266.71 and a beta of 0.70. The firm has a fifty day simple moving average of $118.89 and a two-hundred day simple moving average of $76.99.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insiders Place Their Bets

In related news, insider William Carroll Murphy Goodwin sold 41,387 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the completion of the sale, the director directly owned 150,000 shares in the company, valued at approximately $20,064,000. This represents a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 491,387 shares of company stock valued at $52,698,580. 18.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Oklo during the first quarter valued at approximately $254,000. OneDigital Investment Advisors LLC purchased a new stake in shares of Oklo in the 1st quarter valued at approximately $229,000. Bank of New York Mellon Corp purchased a new stake in Oklo during the first quarter worth approximately $358,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Oklo in the 1st quarter valued at about $763,000. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Oklo by 75.9% during the first quarter. Stratos Wealth Partners LTD. now owns 23,195 shares of the company’s stock worth $502,000 after buying an additional 10,010 shares during the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.

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.