Oklo (NYSE:OKLO) Trading 5.9% Higher – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price rose 5.9% during trading on Monday . The stock traded as high as $62.06 and last traded at $61.7070. Approximately 8,194,456 shares changed hands during trading, a decline of 25% from the average daily volume of 10,984,823 shares. The stock had previously closed at $58.25.

Analyst Ratings Changes

Several equities analysts recently weighed in on OKLO shares. Texas Capital raised Oklo to a “strong-buy” rating in a research note on Tuesday, January 27th. Bank of America upgraded Oklo from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $111.00 to $127.00 in a research report on Wednesday, January 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $106.00 target price on shares of Oklo in a report on Friday, January 9th. William Blair restated an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Oklo in a research note on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.93.

Oklo Price Performance

The company has a market cap of $9.64 billion, a PE ratio of -114.27 and a beta of 0.81. The firm has a 50-day simple moving average of $77.62 and a two-hundred day simple moving average of $95.86.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 139,999 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $63.59, for a total value of $8,902,536.41. Following the completion of the transaction, the chief executive officer owned 679,024 shares of the company’s stock, valued at approximately $43,179,136.16. The trade was a 17.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Craig Bealmear sold 9,726 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $76.93, for a total transaction of $748,221.18. Following the completion of the transaction, the chief financial officer owned 196,913 shares in the company, valued at approximately $15,148,517.09. This trade represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,944,726 shares of company stock valued at $164,208,389. 18.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC grew its stake in Oklo by 1,184.4% in the 4th quarter. Hsbc Holdings PLC now owns 112,372 shares of the company’s stock worth $8,063,000 after acquiring an additional 103,623 shares during the period. SHP Wealth Management acquired a new position in Oklo in the 4th quarter valued at $32,000. Tulsa Wealth Advisors INC purchased a new position in shares of Oklo during the 4th quarter worth $332,000. Strategic Investment Solutions Inc. IL lifted its stake in shares of Oklo by 45.5% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,488 shares of the company’s stock worth $107,000 after purchasing an additional 465 shares during the period. Finally, Tempo Wealth LLC acquired a new stake in shares of Oklo during the fourth quarter worth $240,000. Hedge funds and other institutional investors 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.