Oklo (NYSE:OKLO) Shares Gap Up – Time to Buy?

Oklo Inc. (NYSE:OKLO) shares gapped up prior to trading on Tuesday . The stock had previously closed at $39.73, but opened at $41.33. Oklo shares last traded at $37.64, with a volume of 3,937,117 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OKLO shares. Craig Hallum assumed coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. HC Wainwright initiated coverage on Oklo in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 target price for the company. Citigroup reaffirmed a “neutral” rating on shares of Oklo in a report on Wednesday, May 14th. BTIG Research assumed coverage on shares of Oklo in a research note on Friday, April 11th. They issued a “neutral” rating on the stock. Finally, B. Riley lifted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.40.

Oklo Stock Performance

The business’s 50 day moving average is $25.69 and its 200-day moving average is $28.01. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of -7.08 and a beta of -0.02.

Oklo (NYSE:OKLO) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Sell-side analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 41,000 shares of the stock in a transaction that occurred on 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 approximately $236,593,786.80. This represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John M. Jansen purchased 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The stock was bought 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 in the company, valued at approximately $147,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Institutional investors have recently bought and sold shares of the company. Atomi Financial Group Inc. acquired a new position in shares of Oklo in the fourth quarter valued at approximately $19,285,000. Archford Capital Strategies LLC purchased a new stake in shares of Oklo during the 4th quarter worth approximately $212,000. Vanguard Group Inc. lifted its position in shares of Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after buying an additional 2,090,154 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Oklo in the fourth quarter valued at $2,209,000. Finally, Barclays PLC purchased a new position in Oklo during the 3rd quarter worth approximately $58,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.