Oklo (NYSE:OKLO) Trading 1% Higher - Here's Why

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price was up 1% during trading on Tuesday . The company traded as high as $23.74 and last traded at $22.77. Approximately 2,853,329 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 11,733,416 shares. The stock had previously closed at $22.55.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKLO. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective for the company. B. Riley upped their target price on shares of Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Wedbush reiterated an "outperform" rating and issued a $45.00 price objective on shares of Oklo in a research report on Tuesday, March 25th. BTIG Research assumed coverage on Oklo in a research report on Friday, April 11th. They set a "neutral" rating on the stock. Finally, Citigroup reduced their price objective on shares of Oklo from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $44.25.

Oklo Price Performance

The firm has a market capitalization of $3.06 billion, a PE ratio of -2.17 and a beta of -0.01. The stock has a 50-day moving average price of $29.48 and a 200-day moving average price of $26.10.

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

Insider Buying and Selling

In other Oklo news, Director John M. Jansen bought 6,000 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average cost 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 in the company, valued at approximately $147,420. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 35,365 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $25.15, for a total value of $889,429.75. Following the sale, the chief executive officer now directly owns 11,033,561 shares of the company's stock, valued at approximately $277,494,059.15. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is owned by company insiders.

Institutional Trading of Oklo

A number of hedge funds have recently modified their holdings of the business. TD Waterhouse Canada Inc. acquired a new position in Oklo in the 4th quarter valued at approximately $27,000. Sandy Spring Bank acquired a new position in shares of Oklo in the fourth quarter worth $32,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo during the fourth quarter worth $32,000. Covestor Ltd acquired a new stake in Oklo during the fourth quarter valued at $34,000. Finally, Anfield Capital Management LLC purchased a new position in Oklo in the fourth quarter valued at about $43,000. Hedge funds and other 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.