Oklo (NYSE:OKLO) Shares Up 2% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price shot up 2% on Friday . The company traded as high as $22.19 and last traded at $21.99. 4,576,112 shares changed hands during trading, a decline of 61% from the average session volume of 11,694,299 shares. The stock had previously closed at $21.56.

Analysts Set New Price Targets

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

Oklo Trading Up 2.0 %

The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -2.17 and a beta of -0.01. The company’s 50 day moving average is $29.48 and its 200 day moving average is $26.22.

Oklo (NYSE:OKLO) last released its quarterly 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). Analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 41,000 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the sale, the chief executive officer now directly owns 10,852,926 shares of the company’s stock, valued at $236,593,786.80. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John M. Jansen acquired 6,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 6,000 shares in the company, valued at $147,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is owned by insiders.

Institutional Trading of Oklo

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Oklo during the 4th quarter worth approximately $38,661,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo in the 4th quarter valued at approximately $19,285,000. TimesSquare Capital Management LLC purchased a new stake in shares of Oklo in the fourth quarter valued at approximately $17,104,000. Finally, Geode Capital Management LLC acquired a new position in Oklo during the third quarter worth $5,971,000. Institutional investors and hedge funds 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.