Oklo (NYSE:OKLO) Trading 8.5% Higher – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares traded up 8.5% on Tuesday . The stock traded as high as $61.61 and last traded at $58.55. 18,020,775 shares were traded during trading, an increase of 77% from the average session volume of 10,152,888 shares. The stock had previously closed at $53.94.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group cut their price target on Oklo from $91.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. B. Riley Financial cut their price target on Oklo from $129.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Finally, Canaccord Genuity Group cut their price target on Oklo from $175.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.30.

Oklo Trading Up 8.5%

The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of -81.32 and a beta of 0.93. The stock has a 50-day moving average price of $59.76 and a 200 day moving average price of $89.44.

Oklo (NYSE:OKLO) last posted its earnings results on Tuesday, March 17th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). During the same quarter in the previous year, the business posted ($0.74) earnings per share. Equities research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity

In other news, CFO Richard Craig Bealmear sold 16,342 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $51.08, for a total transaction of $834,749.36. Following the sale, the chief financial officer directly owned 386,008 shares in the company, valued at $19,717,288.64. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $50.25, for a total value of $3,015,000.00. Following the sale, the chief executive officer owned 691,533 shares in the company, valued at $34,749,533.25. This trade represents a 7.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 818,766 shares of company stock worth $50,855,915 in the last ninety days. Company insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Institutional investors have recently modified their holdings of the business. NBC Securities Inc. grew its position in shares of Oklo by 75.0% during the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. GAMMA Investing LLC grew its position in shares of Oklo by 356.3% during the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after acquiring an additional 285 shares during the period. Armstrong Advisory Group Inc. acquired a new stake in Oklo in the 3rd quarter worth about $27,000. Gables Capital Management Inc. acquired a new stake in Oklo in the 3rd quarter worth about $28,000. Finally, Nemes Rush Group LLC acquired a new stake in Oklo in the 3rd quarter worth about $28,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Company Profile

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.