Oklo (NYSE:OKLO) Stock Price Up 11% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price rose 11% during mid-day trading on Monday . The company traded as high as $23.41 and last traded at $21.98. Approximately 9,883,199 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 11,714,197 shares. The stock had previously closed at $19.80.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup dropped their target price on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Craig Hallum began coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. B. Riley raised their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Oklo in a report on Tuesday, March 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.25.

Oklo Stock Up 10.8 %

The stock’s 50-day moving average price is $34.83 and its 200 day moving average price is $25.30. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -2.17 and a beta of -0.01.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Monday, March 24th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). On average, research analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 41,000 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the sale, the chief executive officer now owns 10,852,926 shares of the company’s stock, valued at $236,593,786.80. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John M. Jansen purchased 6,000 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were acquired at an average price of $24.57 per share, with a total value of $147,420.00. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $147,420. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo during the fourth quarter worth approximately $27,000. Sandy Spring Bank acquired a new stake in Oklo during the 4th quarter valued at $32,000. CoreCap Advisors LLC acquired a new stake in Oklo during the 4th quarter valued at $32,000. Covestor Ltd bought a new position in Oklo in the 4th quarter valued at $34,000. Finally, Anfield Capital Management LLC acquired a new position in Oklo in the fourth quarter worth $43,000. 85.03% of the stock is owned by institutional investors.

Oklo Company Profile

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.