Oklo (NYSE:OKLO) Trading 2.9% Higher – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price was up 2.9% during mid-day trading on Tuesday . The company traded as high as $69.59 and last traded at $67.62. Approximately 6,054,217 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 12,793,865 shares. The stock had previously closed at $65.69.

Analyst Ratings Changes

OKLO has been the subject of several recent research reports. Wedbush reissued an “outperform” rating on shares of Oklo in a research note on Friday, January 9th. Zacks Research lowered shares of Oklo from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Citigroup reissued a “neutral” rating on shares of Oklo in a research note on Monday, November 24th. The Goldman Sachs Group restated a “neutral” rating and set a $106.00 price target on shares of Oklo in a research report on Friday, January 9th. Finally, Bank of America upgraded shares of Oklo from a “neutral” rating to a “buy” rating and increased their price objective for the company from $111.00 to $127.00 in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and a consensus target price of $103.20.

Oklo Price Performance

The stock’s fifty day moving average is $83.53 and its 200-day moving average is $96.83.

Insider Buying and Selling

In other news, CFO Richard Craig Bealmear sold 69,841 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total value of $5,475,534.40. Following the transaction, the chief financial officer owned 202,072 shares of the company’s stock, valued at $15,842,444.80. This represents a 25.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 840,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $82.32, for a total value of $69,148,800.00. Following the sale, the chief executive officer directly owned 1,580,000 shares of the company’s stock, valued at $130,065,600. The trade was a 34.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,762,526 shares of company stock worth $153,283,847. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Oklo by 71.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after acquiring an additional 2,968,981 shares during the period. Vanguard Group Inc. increased its holdings in Oklo by 33.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after purchasing an additional 2,901,909 shares during the last quarter. State Street Corp increased its holdings in Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Geode Capital Management LLC raised its position in Oklo by 195.9% in the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after purchasing an additional 1,488,482 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after purchasing an additional 1,316,867 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Oklo

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.