Oklo (NYSE:OKLO) Trading 15.4% Higher – Here’s Why

Oklo Inc. (NYSE:OKLO) shares rose 15.4% on Thursday . The stock traded as high as $114.29 and last traded at $111.50. Approximately 20,334,256 shares traded hands during trading, an increase of 11% from the average daily volume of 18,300,520 shares. The stock had previously closed at $96.59.

Analyst Ratings Changes

A number of brokerages have issued reports on OKLO. Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a research note on Wednesday, October 8th. Seaport Res Ptn lowered shares of Oklo from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. 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. Citigroup reaffirmed a “neutral” rating on shares of Oklo in a report on Monday, November 24th. Finally, HC Wainwright lifted their price target on Oklo from $55.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $100.57.

Oklo Stock Performance

The company has a market cap of $17.42 billion, a price-to-earnings ratio of -206.48 and a beta of 0.73. The company has a fifty day moving average of $120.42 and a two-hundred day moving average of $86.50.

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

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 300,000 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were 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 $1,097,913,801.48. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the sale, the director owned 150,000 shares of the company’s stock, valued at $20,064,000. The trade was a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 509,187 shares of company stock valued at $54,432,638 in the last quarter. 18.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OKLO. Armstrong Advisory Group Inc. acquired a new stake in shares of Oklo in the third quarter valued at about $27,000. Gables Capital Management Inc. acquired a new position in shares of Oklo in the third quarter worth approximately $28,000. Nemes Rush Group LLC bought a new stake in Oklo in the third quarter valued at approximately $28,000. CI Investments Inc. boosted its holdings in Oklo by 153.0% in the third quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after acquiring an additional 179 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Oklo during the 3rd quarter valued at approximately $33,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.