Oklo (NYSE:OKLO) Trading 1.3% Higher – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price was up 1.3% on Tuesday . The company traded as high as $100.55 and last traded at $96.61. Approximately 11,348,782 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 18,512,342 shares. The stock had previously closed at $95.36.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OKLO shares. BTIG Research restated a “neutral” rating on shares of Oklo in a research note on Tuesday, August 12th. UBS Group set a $175.00 price objective on Oklo in a report on Thursday, October 9th. B. Riley increased their target price on Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Bank of America dropped their price target on shares of Oklo from $117.00 to $111.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Finally, HC Wainwright upped their price target on shares of Oklo from $55.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Oklo presently has an average rating of “Hold” and a consensus target price of $106.29.

Oklo Trading Up 1.3%

The company has a market cap of $15.10 billion, a price-to-earnings ratio of -178.91 and a beta of 0.70. The firm has a 50-day moving average price of $123.52 and a 200 day moving average price of $81.75.

Oklo (NYSE:OKLO) last posted its earnings results on Tuesday, November 11th. 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 prior year, the company earned ($0.08) earnings per share. Research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated 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 directly owned 9,780,098 shares in the company, valued at $1,097,913,801.48. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 491,387 shares of company stock worth $52,698,580. 18.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 worth $792,822,000 after buying an additional 2,968,981 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Oklo by 33.4% in the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after purchasing an additional 2,901,909 shares in the last quarter. State Street Corp increased its holdings in shares of Oklo by 454.5% during the second 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 period. Geode Capital Management LLC increased its holdings in shares of Oklo by 195.9% during 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 raised its stake in shares of Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after purchasing an additional 1,316,867 shares in the last quarter. Institutional investors own 85.03% of the company’s stock.

About Oklo

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.