Oklo (NYSE:OKLO) Stock Price Up 1% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several brokerages have commented on OKLO. B. Riley boosted their target price on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Wedbush reiterated an “outperform” rating and set a $45.00 price objective on shares of Oklo in a research report on Tuesday, March 25th. Citigroup decreased their target price on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. Finally, BTIG Research assumed coverage on Oklo in a research report on Friday. They issued a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Oklo Stock Up 1.0 %

The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -2.25 and a beta of -0.01. The stock has a 50 day moving average of $31.84 and a 200 day moving average of $25.96.

Oklo (NYSE:OKLO) last announced its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). As a group, sell-side analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Oklo

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Oklo by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock worth $104,646,000 after purchasing an additional 74,315 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after buying an additional 2,090,154 shares during the period. Van ECK Associates Corp purchased a new position in shares of Oklo during the 4th quarter valued at $38,661,000. Atomi Financial Group Inc. bought a new position in shares of Oklo during the 4th quarter worth $19,285,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Oklo during the 4th quarter worth $17,104,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

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.