Oklo (NYSE:OKLO) Trading 3.7% Higher – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price traded up 3.7% during mid-day trading on Friday . The company traded as high as $96.70 and last traded at $94.85. 15,357,163 shares were traded during mid-day trading, an increase of 0% from the average session volume of 15,319,879 shares. The stock had previously closed at $91.45.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays set a $146.00 price objective on shares of Oklo in a report on Monday, September 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $122.00 price target on shares of Oklo in a research note on Wednesday, November 12th. Citigroup restated a “neutral” rating on shares of Oklo in a research note on Monday, November 24th. Needham & Company LLC reaffirmed a “buy” rating on shares of Oklo in a report on Friday, January 9th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $106.00 target price on shares of Oklo in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.13.

Oklo Stock Up 3.7%

The firm has a 50 day simple moving average of $91.83 and a two-hundred day simple moving average of $93.88. The stock has a market capitalization of $14.82 billion, a P/E ratio of -175.65 and a beta of 0.76.

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

Insider Buying and Selling at Oklo

In other news, CFO Richard Craig Bealmear sold 69,841 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $78.40, for a total value of $5,475,534.40. Following the sale, the chief financial officer directly owned 202,072 shares in the company, valued at approximately $15,842,444.80. This trade represents a 25.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 840,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the transaction, the chief executive officer owned 1,580,000 shares of the company’s stock, valued at approximately $130,065,600. This represents a 34.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,552,800 shares of company stock worth $137,543,426 over the last 90 days. Insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Oklo by 33.4% during the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after buying an additional 2,901,909 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 last quarter. Van ECK Associates Corp lifted its stake in shares of Oklo by 61.0% in the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after acquiring an additional 1,316,867 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Oklo by 195.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after acquiring an additional 1,488,482 shares in the last quarter. Finally, State Street Corp grew its position in Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after acquiring an additional 1,752,946 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Company Profile

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.