Oklo (NYSE:OKLO) Sees Unusually-High Trading Volume on Analyst Upgrade

Oklo Inc. (NYSE:OKLO - Get Free Report) shares saw strong trading volume on Friday after Wedbush raised their price target on the stock from $45.00 to $55.00. Wedbush currently has an outperform rating on the stock. 31,599,387 shares changed hands during mid-day trading, an increase of 159% from the previous session's volume of 12,200,636 shares.The stock last traded at $49.90 and had previously closed at $39.72.Oklo Reaches Critical Mass, Atomic Upside Still AvailableOKLO has been the topic of a number of other research reports. BTIG Research initiated coverage on shares of Oklo in a report on Friday, April 11th. They issued a "neutral" rating on the stock. B. Riley upped their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Citigroup reaffirmed a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. HC Wainwright started coverage on shares of Oklo in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. Finally, Craig Hallum began coverage on Oklo in a report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.40.Get Our Latest Stock Analysis on OkloInsiders Place Their BetsGoogle Is Betting Big on Nuclear Reactors—Should You?In related news, Director John M. Jansen acquired 6,000 shares of the stock in a transaction on Thursday, March 27th. The stock was purchased at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the transaction, the director now owns 6,000 shares of the company's stock, valued at $147,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 35,365 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $25.15, for a total value of $889,429.75. Following the sale, the chief executive officer now owns 11,033,561 shares of the company's stock, valued at approximately $277,494,059.15. The trade was a 0.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company's stock. Institutional Investors Weigh In On OkloSeveral large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its holdings in Oklo by 24.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 36,973 shares of the company's stock worth $800,000 after purchasing an additional 7,352 shares in the last quarter. Flaharty Asset Management LLC bought a new position in shares of Oklo during the first quarter worth about $54,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Oklo by 90.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock valued at $2,439,000 after buying an additional 53,703 shares during the last quarter. Scientech Research LLC bought a new stake in Oklo in the 1st quarter valued at approximately $950,000. Finally, NewEdge Advisors LLC boosted its position in Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company's stock worth $339,000 after acquiring an additional 9,772 shares during the last quarter. 85.03% of the stock is currently owned by institutional investors. Oklo Stock PerformanceOklo’s Stock Price Meltdown Is an Opportunity to BuyThe stock has a market cap of $6.78 billion, a price-to-earnings ratio of -9.02 and a beta of -0.02. The business has a 50-day simple moving average of $26.37 and a two-hundred day simple moving average of $28.27. Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. On average, analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year. Oklo Company Profile (Get Free Report)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. Further ReadingFive stocks we like better than OkloRoth IRA Calculator: Calculate Your Potential ReturnsAdvance Auto Parts Jumps on Surprise Earnings Beat3 Small Caps With Big Return PotentialDraftKings' March Madness Miss: Wall Street Sees +50% UpsideInvesting in Travel Stocks BenefitsCostco Stock at $1K: Dominance or Danger Zone?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Oklo Right Now?Before you consider Oklo, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Oklo wasn't on the list.While Oklo currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here