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

Oklo Inc. (NYSE:OKLO) reached 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. The stock had previously closed at $68.03.

Other 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 target for the stock from $50.00 to $74.00 in a report on Tuesday, May 27th. Citigroup reiterated a “neutral” rating on shares of Oklo in a research note on Wednesday, May 14th. BTIG Research began coverage on shares of Oklo in a research report on Friday, April 11th. They set a “neutral” rating for the company. William Blair assumed coverage on shares of Oklo in a research report on Wednesday, May 28th. They set an “outperform” rating for the company. Finally, Seaport Res Ptn raised Oklo from a “hold” rating to a “strong-buy” rating in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Oklo presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 35,365 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $25.15, for a total transaction of $889,429.75. Following the completion of the transaction, the chief executive officer now directly owns 11,033,561 shares in the company, valued at $277,494,059.15. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John M. Jansen bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average price of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $147,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Several hedge funds have recently modified their holdings of OKLO. Stratos Wealth Partners LTD. acquired a new stake in Oklo during the 4th quarter valued at $280,000. Van ECK Associates Corp acquired a new stake in Oklo during the 4th quarter valued at $38,661,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Oklo in the fourth quarter valued at $240,000. Palumbo Wealth Management LLC acquired a new stake in shares of Oklo in the fourth quarter valued at $220,000. Finally, Tcfg Wealth Management LLC acquired a new stake in shares of Oklo in the fourth quarter valued at $450,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Price Performance

The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of -11.77 and a beta of 0.58. The stock has a 50 day moving average price of $35.82 and a two-hundred day moving average price of $31.73.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. Sell-side analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

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.