Oklo (NYSE:OKLO) Shares Up 11% – Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO) were up 11% during trading on Monday . The company traded as high as $23.41 and last traded at $21.98. Approximately 9,883,199 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 11,714,197 shares. The stock had previously closed at $19.80.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OKLO. Citigroup reduced their price objective on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Craig Hallum initiated coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. B. Riley lifted their price objective on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Wedbush reiterated an “outperform” rating and set a $45.00 target price on shares of Oklo in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.25.

Oklo Price Performance

The firm has a market cap of $3.35 billion, a PE ratio of -2.38 and a beta of -0.01. The stock has a 50 day simple moving average of $34.07 and a 200-day simple moving average of $25.45.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Monday, March 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). As a group, equities analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Transactions at Oklo

In related news, Director John M. Jansen purchased 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The stock was purchased at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at $147,420. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 41,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $21.80, for a total value of $893,800.00. Following the completion of the transaction, the chief executive officer now directly owns 10,852,926 shares in the company, valued at $236,593,786.80. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OKLO. TD Waterhouse Canada Inc. purchased a new position in Oklo in the 4th quarter worth approximately $27,000. Sandy Spring Bank purchased a new stake in Oklo in the 4th quarter worth about $32,000. CoreCap Advisors LLC purchased a new position in Oklo during the 4th quarter valued at $32,000. Covestor Ltd bought a new position in shares of Oklo in the fourth quarter worth about $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo during the fourth quarter valued at approximately $43,000. Institutional investors own 85.03% of the company’s stock.

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.