Oklo (NYSE:OKLO) Shares Gap Up on Insider Buying Activity

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $21.63, but opened at $22.88. Oklo shares last traded at $22.49, with a volume of 2,817,561 shares trading hands.

Specifically, Director John M. Jansen purchased 6,000 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were acquired at an average price of $24.57 per share, with a total value of $147,420.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company's stock, valued at $147,420. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OKLO. Citigroup dropped their price objective on Oklo from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Wedbush reissued an "outperform" rating and set a $45.00 price target on shares of Oklo in a research note on Tuesday, March 25th. Craig Hallum started coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective on the stock. Finally, B. Riley lifted their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $44.25.

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Oklo Trading Up 0.9 %

The firm has a market cap of $3.16 billion, a P/E ratio of -2.24 and a beta of -0.28. The firm's 50 day moving average is $35.83 and its two-hundred day moving average is $24.97.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). Analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. bought a new position in shares of Oklo during the 4th quarter valued at about $27,000. Sandy Spring Bank bought a new position in Oklo in the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC acquired a new position in shares of Oklo in the fourth quarter valued at approximately $32,000. Covestor Ltd bought a new stake in shares of Oklo during the fourth quarter worth $34,000. Finally, Anfield Capital Management LLC acquired a new stake in shares of Oklo during the fourth quarter worth $43,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.