Oklo (NYSE:OKLO) Stock Price Up 6.2% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price shot up 6.2% on Thursday . The stock traded as high as $25.27 and last traded at $24.83. 4,828,487 shares changed hands during trading, a decline of 70% from the average session volume of 16,213,894 shares. The stock had previously closed at $23.37.

Analysts Set New Price Targets

OKLO has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Oklo from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. Wedbush reaffirmed an "outperform" rating and issued a $45.00 price target on shares of Oklo in a research note on Tuesday, March 25th. B. Riley lifted their price objective on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. BTIG Research began coverage on Oklo in a research report on Friday, April 11th. They issued a "neutral" rating on the stock. Finally, HC Wainwright initiated coverage on Oklo in a report on Wednesday. They set a "buy" rating and a $55.00 price target for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Oklo has a consensus rating of "Moderate Buy" and an average target price of $46.40.

Oklo Price Performance

The company's 50 day moving average is $27.55 and its two-hundred day moving average is $26.34. The firm has a market cap of $3.41 billion, a P/E ratio of -2.42 and a beta of -0.01.

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

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 35,365 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $25.15, for a total value of $889,429.75. Following the completion of the transaction, the chief executive officer now directly owns 11,033,561 shares of the company's stock, valued at approximately $277,494,059.15. The trade was a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John M. Jansen acquired 6,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average price of $24.57 per share, with a total value of $147,420.00. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $147,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company's stock.

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. Mirae Asset Global Investments Co. Ltd. bought a new stake in Oklo during the first quarter worth $413,000. Spire Wealth Management increased its stake in shares of Oklo by 14.1% during the 1st quarter. Spire Wealth Management now owns 3,896 shares of the company's stock worth $84,000 after purchasing an additional 481 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Oklo in the 1st quarter valued at about $411,000. Vantage Point Financial LLC lifted its stake in Oklo by 63.8% in the 1st quarter. Vantage Point Financial LLC now owns 16,053 shares of the company's stock valued at $347,000 after purchasing an additional 6,253 shares during the last quarter. Finally, Palumbo Wealth Management LLC increased its position in Oklo by 17.5% during the first quarter. Palumbo Wealth Management LLC now owns 12,160 shares of the company's stock worth $263,000 after buying an additional 1,814 shares during the last quarter. 85.03% of the stock is owned by institutional investors.

Oklo Company Profile

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.

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