Oklo (NYSE:OKLO) Stock Price Up 4.5% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price was up 4.5% during mid-day trading on Monday . The company traded as high as $24.37 and last traded at $23.52. Approximately 4,502,382 shares traded hands during trading, a decline of 62% from the average daily volume of 11,753,045 shares. The stock had previously closed at $22.50.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of recent research reports. Citigroup cut their price objective on Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. BTIG Research assumed coverage on shares of Oklo in a research note on Friday, April 11th. They issued a “neutral” rating on the stock. B. Riley upped their price objective 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. Craig Hallum began coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Oklo in a report on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Oklo Trading Up 1.9 %

The firm has a 50-day moving average price of $31.35 and a 200-day moving average price of $25.94. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -2.27 and a beta of -0.01.

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

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 35,365 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 11,033,561 shares in the company, valued at $277,494,059.15. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John M. Jansen purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $147,420. This trade represents a ∞ increase in their position. The disclosure for this purchase 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. Atomi Financial Group Inc. purchased a new position in shares of Oklo during the fourth quarter worth approximately $19,285,000. Archford Capital Strategies LLC purchased a new position in Oklo during the fourth quarter valued at $212,000. Vanguard Group Inc. raised its holdings in Oklo by 92.8% in the fourth 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. purchased a new stake in shares of Oklo during the fourth quarter valued at $2,209,000. Finally, Barclays PLC purchased a new stake in Oklo in the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.