Oklo (NYSE:OKLO) Shares Gap Up - Here's Why

Key Points

• Oklo Inc. shares saw a significant price increase, gapping up from a previous close of $124.70 to open at $133.53, driven by high trading volume of 4,523,894 shares.
• Various analysts have adjusted their ratings on Oklo, with Goldman Sachs setting a "neutral" rating and a target price of $117.00, while others downgraded or upgraded their assessments, reflecting mixed sentiments within the investment community.
• Insider activity includes notable sales by executives, with Director Michael Stuart Klein selling 50,000 shares for about $6.7 million, contributing to a total of 491,387 shares sold worth over $52 million in the last 90 days.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $124.70, but opened at $133.53. Oklo shares last traded at $136.57, with a volume of 4,523,894 shares.

Analysts Set New Price Targets

OKLO has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Oklo in a research report on Thursday, September 25th. They set a "neutral" rating and a $117.00 target price on the stock. Seaport Res Ptn lowered shares of Oklo from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Zacks Research lowered shares of Oklo from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 14th. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. Finally, William Blair restated an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Oklo presently has a consensus rating of "Hold" and an average price target of $98.14.

Oklo Stock Performance

The stock's fifty day moving average price is $107.31 and its two-hundred day moving average price is $69.29. The company has a market cap of $20.13 billion, a P/E ratio of -324.77 and a beta of 0.69.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). On average, equities research analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity at Oklo

In related news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the transaction, the director owned 150,000 shares of the company's stock, valued at $20,064,000. This represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Craig Bealmear sold 92,378 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the completion of the transaction, the chief financial officer directly owned 75,738 shares of the company's stock, valued at approximately $7,098,922.74. The trade was a 54.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,387 shares of company stock worth $52,698,580 in the last 90 days. 18.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. State Street Corp increased its position in Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company's stock valued at $119,743,000 after acquiring an additional 1,752,946 shares during the period. Geode Capital Management LLC increased its position in Oklo by 195.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock valued at $125,906,000 after acquiring an additional 1,488,482 shares during the period. Hood River Capital Management LLC acquired a new position in Oklo in the 2nd quarter valued at approximately $40,919,000. Millennium Management LLC increased its position in Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company's stock valued at $12,589,000 after acquiring an additional 570,532 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in Oklo in the 1st quarter valued at approximately $11,674,000. 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.

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