Oklo (NYSE:OKLO) Trading Up 9.4% on Insider Buying Activity

Oklo Inc. (NYSE:OKLO - Get Free Report) shares shot up 9.4% on Tuesday following insider buying activity. The company traded as high as $23.52 and last traded at $23.66. 5,459,557 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 11,671,500 shares. The stock had previously closed at $21.63.

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

Wall Street Analyst Weigh In

OKLO has been the subject of a number of recent analyst reports. Citigroup dropped their price target 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. Wedbush reissued an "outperform" rating and issued a $45.00 price objective on shares of Oklo in a research note on Tuesday, March 25th. Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They set a "buy" rating and a $44.00 target price on the stock. Finally, B. Riley raised their price target on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $44.25.

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Oklo Price Performance

The stock has a market cap of $3.07 billion, a PE ratio of -2.18 and a beta of -0.28. The business has a fifty day moving average of $35.61 and a 200-day moving average of $24.96.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.09) EPS 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 EPS for the current year.

Hedge Funds Weigh In On Oklo

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after buying an additional 416 shares during the period. Ancora Advisors LLC grew its stake in Oklo by 18.2% in the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company's stock valued at $98,000 after purchasing an additional 710 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in Oklo in the fourth quarter worth about $27,000. CoreCap Advisors LLC bought a new stake in shares of Oklo in the 4th quarter valued at about $32,000. Finally, Sandy Spring Bank purchased a new position in shares of Oklo in the 4th quarter worth approximately $32,000. 85.03% of the stock is currently owned by institutional investors.

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.