Oklo (NYSE:OKLO) Stock Price Up 1% – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares traded up 1% during mid-day trading on Tuesday . The company traded as high as $23.74 and last traded at $22.77. 2,853,329 shares changed hands during trading, a decline of 76% from the average session volume of 11,733,416 shares. The stock had previously closed at $22.55.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OKLO. Wedbush reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Oklo in a research note on Tuesday, March 25th. Citigroup decreased their price target on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. BTIG Research assumed coverage on Oklo in a research report on Friday, April 11th. They set a “neutral” rating 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. Finally, Craig Hallum assumed coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Price Performance

The company has a 50 day simple moving average of $30.68 and a 200-day simple moving average of $25.91. The stock has a market cap of $3.00 billion, a P/E ratio of -2.13 and a beta of -0.01.

Oklo (NYSE:OKLO) last issued its 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, research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 41,000 shares of Oklo stock in a transaction on Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John M. Jansen acquired 6,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was bought at an average price 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 approximately $147,420. This represents a ? increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. Wealth Enhancement Advisory Services LLC bought a new stake in Oklo during the 1st quarter valued at approximately $254,000. Noble Wealth Management PBC bought a new stake in shares of Oklo during the first quarter valued at approximately $104,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Oklo during the first quarter valued at approximately $216,000. Park Avenue Securities LLC purchased a new stake in Oklo in the first quarter worth $374,000. Finally, StoneCrest Wealth Management Inc. bought a new position in Oklo in the first quarter worth $347,000. 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.