Oklo (NYSE:OKLO) Shares Up 3.6% – Here’s Why

Oklo Inc. (NYSE:OKLO) shot up 3.6% during mid-day trading on Wednesday . The company traded as high as $89.88 and last traded at $88.8740. 7,979,810 shares traded hands during trading, a decline of 57% from the average session volume of 18,476,119 shares. The stock had previously closed at $85.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OKLO shares. Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Monday. Seaport Res Ptn lowered Oklo from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $122.00 target price on shares of Oklo in a research note on Wednesday, November 12th. UBS Group set a $175.00 price target on Oklo in a research report on Thursday, October 9th. Finally, B. Riley lifted their price objective on Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $106.29.

Oklo Price Performance

The stock’s 50 day simple moving average is $124.50 and its two-hundred day simple moving average is $84.49. The stock has a market capitalization of $13.89 billion, a PE ratio of -164.58 and a beta of 0.70.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter last year, the company earned ($0.08) earnings per share. As a group, equities research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The disclosure for this sale is available in the SEC filing. Insiders sold 503,323 shares of company stock valued at $53,914,143 over the last three months. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Caldwell Sutter Capital Inc. purchased a new stake in shares of Oklo in the 2nd quarter worth about $25,000. Private Trust Co. NA bought a new position in Oklo in the second quarter worth about $25,000. Fourth Dimension Wealth LLC lifted its holdings in Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock worth $25,000 after buying an additional 250 shares during the period. Armstrong Advisory Group Inc. bought a new stake in Oklo during the 3rd quarter valued at approximately $27,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Oklo during the 2nd quarter worth approximately $28,000. 85.03% of the stock is currently 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.