Oklo Sees Unusually High Options Volume (NYSE:OKLO)

Oklo Inc. (NYSE:OKLO) was the target of some unusual options trading activity on Monday. Stock traders acquired 108,464 call options on the stock. This represents an increase of approximately 48% compared to the average volume of 73,239 call options.

Insider Buying and Selling at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the sale, the director owned 200,000 shares of the company’s stock, valued at approximately $10,970,000. The trade was a 20.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the transaction, the chief executive officer owned 10,105,098 shares in the company, valued at $557,801,409.60. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Effects LLC bought a new position in Oklo during the second quarter valued at approximately $376,000. Foster Victor Wealth Advisors LLC purchased a new stake in Oklo during the 2nd quarter valued at $477,000. StoneCrest Wealth Management Inc. lifted its holdings in shares of Oklo by 5.0% during the 2nd quarter. StoneCrest Wealth Management Inc. now owns 16,847 shares of the company’s stock valued at $943,000 after buying an additional 795 shares during the period. Sheets Smith Wealth Management purchased a new position in shares of Oklo in the 2nd quarter worth $296,000. Finally, SJS Investment Consulting Inc. lifted its holdings in Oklo by 205.4% in the second quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the company’s stock valued at $76,000 after acquiring an additional 908 shares during the period. 85.03% of the stock is owned by institutional investors.

Oklo Price Performance

Shares of Oklo stock opened at $61.14 on Wednesday. Oklo has a 1 year low of $5.35 and a 1 year high of $73.55. The firm’s 50-day moving average is $50.63 and its 200 day moving average is $37.35. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of -11.30 and a beta of 0.57.

Oklo (NYSE:OKLO) last issued its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. On average, equities analysts expect that Oklo will post -8.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Craig Hallum cut Oklo from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research report on Monday, June 23rd. Citigroup restated a “neutral” rating on shares of Oklo in a research report on Wednesday, May 14th. William Blair began coverage on Oklo in a research note on Wednesday, May 28th. They issued an “outperform” rating on the stock. Daiwa America raised Oklo to a “hold” rating in a research report on Friday, July 11th. Finally, Cantor Fitzgerald set a $73.00 target price on shares of Oklo and gave the stock an “overweight” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Oklo presently has a consensus rating of “Moderate Buy” and an average target price of $60.25.

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.