Oklo (NYSE:OKLO) Shares Gap Up – Here’s What Happened

Oklo Inc. (NYSE:OKLO) gapped up before the market opened on Friday . The stock had previously closed at $104.97, but opened at $108.70. Oklo shares last traded at $124.31, with a volume of 11,438,737 shares trading hands.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of Oklo in a research note on Tuesday, August 12th. Bank of America assumed coverage on Oklo in a research report on Tuesday, August 26th. They issued a “buy” rating and a $92.00 price target for the company. BNP Paribas Exane started coverage on Oklo in a research note on Friday, July 25th. They issued an “underperform” rating and a $14.00 target price on the stock. BTIG Research reissued a “neutral” rating on shares of Oklo in a research report on Tuesday, August 12th. Finally, Craig Hallum downgraded Oklo from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research report on Monday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.45.

Oklo Stock Performance

The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of -323.52 and a beta of 0.59. The company has a 50 day moving average price of $75.63 and a two-hundred day moving average price of $50.75.

Oklo (NYSE:OKLO) last issued its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, equities analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total value of $2,742,500.00. Following the sale, the director directly owned 200,000 shares in the company, valued at $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $55.20, for a total value of $16,560,000.00. Following the completion of the sale, the chief executive officer owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,387 shares of company stock valued at $31,635,080. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. Caldwell Sutter Capital Inc. acquired a new stake in shares of Oklo during the 2nd quarter worth approximately $25,000. Private Trust Co. NA acquired a new stake in shares of Oklo in the second quarter worth $25,000. Fourth Dimension Wealth LLC raised its holdings in shares of Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock worth $25,000 after acquiring an additional 250 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Oklo in the second quarter valued at about $28,000. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of Oklo by 107.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company’s stock valued at $33,000 after acquiring an additional 305 shares during the last quarter. 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.