Oklo (NYSE:OKLO) Shares Up 6.3% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price was up 6.3% on Wednesday . The stock traded as high as $105.88 and last traded at $102.7140. Approximately 15,297,745 shares traded hands during trading, a decline of 17% from the average daily volume of 18,497,813 shares. The stock had previously closed at $96.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OKLO shares. HC Wainwright lifted their price target on Oklo from $55.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Barclays set a $146.00 price objective on shares of Oklo in a research report on Monday, September 29th. The Goldman Sachs Group started coverage on shares of Oklo in a research report on Thursday, September 25th. They issued a “neutral” rating and a $117.00 price objective on the stock. BNP Paribas raised shares of Oklo to a “strong sell” rating in a report on Friday, July 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $122.00 price target on shares of Oklo in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $106.29.

Oklo Stock Up 6.3%

The firm has a market capitalization of $16.05 billion, a price-to-earnings ratio of -190.21 and a beta of 0.70. The company’s 50 day moving average is $123.97 and its 200 day moving average is $82.25.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter in the prior year, the business posted ($0.08) EPS. On average, analysts expect that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity

In other news, CFO Richard Craig Bealmear sold 7,622 shares of Oklo stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $101.44, for a total value of $773,175.68. Following the transaction, the chief financial officer owned 121,913 shares in the company, valued at approximately $12,366,854.72. This trade represents a 5.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total value of $33,678,000.00. Following the sale, the chief executive officer owned 9,780,098 shares of the company’s stock, valued at approximately $1,097,913,801.48. This represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 491,387 shares of company stock worth $52,698,580. 18.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently added to or reduced their stakes in the stock. Caldwell Sutter Capital Inc. bought a new position in Oklo in the 2nd quarter valued at approximately $25,000. Private Trust Co. NA acquired a new position in shares of Oklo during the second quarter worth $25,000. Fourth Dimension Wealth LLC lifted its stake in shares of Oklo by 125.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after acquiring an additional 250 shares during the last quarter. Armstrong Advisory Group Inc. bought a new stake in Oklo during the 3rd quarter worth $27,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Oklo in the 2nd quarter worth about $28,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.