Oklo (NYSE:OKLO) Shares Up 6.5% After Analyst Upgrade

Oklo Inc. (NYSE:OKLO)’s share price traded up 6.5% on Wednesday after B. Riley raised their price target on the stock from $58.00 to $129.00. B. Riley currently has a buy rating on the stock. Oklo traded as high as $116.98 and last traded at $111.0420. 19,175,570 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 18,615,021 shares. The stock had previously closed at $104.22.

Several other research analysts have also commented on OKLO. Canaccord Genuity Group started coverage on shares of Oklo in a research note on Thursday, October 9th. They set a “buy” rating and a $175.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price target on shares of Oklo in a research note on Wednesday. William Blair restated an “outperform” rating on shares of Oklo in a research report on Wednesday. The Goldman Sachs Group started coverage on Oklo in a research note on Thursday, September 25th. They set a “neutral” rating and a $117.00 price target for the company. Finally, Barclays set a $146.00 price objective on Oklo in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Oklo presently has a consensus rating of “Hold” and an average price target of $106.29.

Insider Activity at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the sale, the director owned 150,000 shares of the company’s stock, valued at approximately $20,064,000. This represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $70.09, for a total transaction of $2,900,814.83. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 491,387 shares of company stock valued at $52,698,580. Corporate insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OKLO. Evernest Financial Advisors LLC bought a new stake in shares of Oklo during the 3rd quarter worth $262,000. Cresset Asset Management LLC boosted its stake in shares of Oklo by 34.1% in the 3rd quarter. Cresset Asset Management LLC now owns 39,596 shares of the company’s stock valued at $4,420,000 after purchasing an additional 10,064 shares in the last quarter. Fox Hill Wealth Management boosted its stake in shares of Oklo by 13.8% in the 3rd quarter. Fox Hill Wealth Management now owns 11,913 shares of the company’s stock valued at $1,330,000 after purchasing an additional 1,442 shares in the last quarter. Legato Capital Management LLC bought a new position in Oklo in the 3rd quarter valued at approximately $452,000. Finally, Comprehensive Financial Planning Inc. PA boosted its position in Oklo by 950.0% in the third quarter. Comprehensive Financial Planning Inc. PA now owns 315 shares of the company’s stock valued at $35,000 after buying an additional 285 shares in the last quarter. 85.03% of the stock is owned by institutional investors.

Oklo Price Performance

The business’s 50-day simple moving average is $121.03 and its two-hundred day simple moving average is $79.59. The stock has a market cap of $16.39 billion, a price-to-earnings ratio of -264.38 and a beta of 0.70.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, November 11th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter in the previous year, the business earned ($0.08) earnings per share. Equities research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current 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.