Oklo (NYSE:OKLO) Shares Up 16.1% on Earnings Beat

Shares of Oklo Inc. (NYSE:OKLO) traded up 16.1% during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $39.37 and last traded at $37.19. 22,373,165 shares were traded during mid-day trading, an increase of 42% from the average session volume of 15,744,960 shares. The stock had previously closed at $32.03.

The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04.

Analysts Set New Price Targets

Several equities analysts recently commented on OKLO shares. BTIG Research initiated coverage on shares of Oklo in a research note on Friday, April 11th. They set a “neutral” rating for the company. Citigroup restated a “neutral” rating on shares of Oklo in a research report on Wednesday. B. Riley lifted 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. HC Wainwright initiated coverage on shares of Oklo in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and issued a $45.00 target price on shares of Oklo in a research note on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.40.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 35,365 shares of the 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 directly owns 11,033,561 shares of the company’s stock, valued at approximately $277,494,059.15. This represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John M. Jansen acquired 6,000 shares of the stock in a transaction dated Thursday, March 27th. The shares were bought at an average cost of $24.57 per share, with a total value 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 represents 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 corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OKLO. Vanguard Group Inc. lifted its position in Oklo by 92.8% during the 4th 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 in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Oklo in the fourth quarter valued at about $38,661,000. Atomi Financial Group Inc. bought a new stake in Oklo during the fourth quarter worth about $19,285,000. TimesSquare Capital Management LLC acquired a new position in Oklo during the fourth quarter valued at approximately $17,104,000. Finally, JAT Capital Mgmt LP bought a new position in Oklo in the fourth quarter valued at approximately $14,798,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Stock Performance

The stock has a market cap of $5.08 billion, a price-to-earnings ratio of -3.60 and a beta of -0.02. The company has a 50-day simple moving average of $24.91 and a two-hundred day simple moving average of $27.64.

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.