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

Oklo Inc. (NYSE:OKLO)’s share price rose 6.3% on Wednesday . The company traded as high as $105.88 and last traded at $102.7140. Approximately 15,297,745 shares were traded 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 research analysts recently issued reports on OKLO shares. Cantor Fitzgerald restated an “overweight” rating and set a $122.00 price objective on shares of Oklo in a research report on Wednesday, November 12th. Zacks Research downgraded shares of Oklo from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. BNP Paribas Exane assumed coverage on shares of Oklo in a research report on Friday, July 25th. They set an “underperform” rating and a $14.00 price target for the company. Bank of America cut their price objective on shares of Oklo from $117.00 to $111.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Finally, Seaport Res Ptn cut shares of Oklo from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $106.29.

Oklo Stock Performance

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

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

Insider Buying and Selling at Oklo

In other Oklo news, CFO Richard Craig Bealmear sold 7,622 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $101.44, for a total transaction of $773,175.68. Following the completion of the sale, the chief financial officer directly 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the firm’s stock in a transaction dated 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 directly owned 9,780,098 shares of the company’s stock, valued at $1,097,913,801.48. This trade represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 491,387 shares of company stock valued at $52,698,580 in the last ninety days. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Black Swift Group LLC bought a new position in shares of Oklo during the 2nd quarter worth approximately $280,000. Bouvel Investment Partners LLC bought a new stake in Oklo during the second quarter worth about $2,263,000. Prospera Financial Services Inc increased its position in shares of Oklo by 10.0% during the 2nd quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock worth $2,880,000 after purchasing an additional 4,678 shares during the last quarter. Strs Ohio bought a new stake in shares of Oklo during the 2nd quarter worth approximately $1,069,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of Oklo in the 2nd quarter valued at approximately $1,833,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.