Oklo (NYSE:OKLO) Stock Price Up 3.1% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) traded up 3.1% on Tuesday . The company traded as high as $65.30 and last traded at $65.0270. 6,655,126 shares were traded during trading, a decline of 44% from the average session volume of 11,867,258 shares. The stock had previously closed at $63.09.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. Citigroup restated a “neutral” rating on shares of Oklo in a research note on Monday, November 24th. Needham & Company LLC restated a “buy” rating on shares of Oklo in a report on Friday, January 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $106.00 price objective on shares of Oklo in a report on Friday, January 9th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Oklo in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.93.

Oklo Price Performance

The firm has a 50 day moving average price of $80.58 and a 200-day moving average price of $96.37. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of -120.42 and a beta of 0.76.

Insider Activity

In related news, CEO Jacob Dewitte sold 840,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the transaction, the chief executive officer owned 1,580,000 shares in the company, valued at $130,065,600. This trade represents a 34.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard Craig Bealmear sold 69,841 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total value of $5,475,534.40. Following the sale, the chief financial officer directly owned 202,072 shares of the company’s stock, valued at approximately $15,842,444.80. This represents a 25.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,750,590 shares of company stock worth $152,068,284. Corporate insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Plancorp LLC grew its holdings in Oklo by 1.2% during the third quarter. Plancorp LLC now owns 6,089 shares of the company’s stock worth $680,000 after acquiring an additional 73 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Oklo by 3.7% during the third quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock worth $293,000 after acquiring an additional 94 shares in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Oklo by 1.5% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock valued at $789,000 after buying an additional 101 shares during the last quarter. Meriwether Wealth & Planning LLC lifted its stake in Oklo by 2.7% in the fourth quarter. Meriwether Wealth & Planning LLC now owns 4,545 shares of the company’s stock valued at $326,000 after acquiring an additional 120 shares during the last quarter. Finally, Rossby Financial LCC increased its position in Oklo by 75.0% during the third quarter. Rossby Financial LCC now owns 350 shares of the company’s stock worth $41,000 after buying an additional 150 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

About Oklo

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.