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

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $63.66, but opened at $67.00. Oklo shares last traded at $70.04, with a volume of 8,669,601 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OKLO shares. William Blair started coverage on shares of Oklo in a research report on Wednesday, May 28th. They issued an "outperform" rating on the stock. BTIG Research started coverage on shares of Oklo in a research report on Friday, April 11th. They issued a "neutral" rating on the stock. Wedbush set a $75.00 target price on shares of Oklo and gave the company an "outperform" rating in a research report on Thursday. Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Oklo currently has an average rating of "Moderate Buy" and an average target price of $56.00.

Oklo Trading Up 2.9%

The stock has a market capitalization of $9.14 billion, a PE ratio of -12.11 and a beta of 0.58. The company's 50 day simple moving average is $35.82 and its 200 day simple moving average is $31.87.

Oklo (NYSE:OKLO - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. As a group, analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 35,365 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total transaction of $889,429.75. Following the completion of the sale, the chief executive officer now directly owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John M. Jansen purchased 6,000 shares of Oklo stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average price of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now owns 6,000 shares in the company, valued at $147,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 18.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OKLO. TD Waterhouse Canada Inc. acquired a new stake in Oklo in the 4th quarter worth $27,000. CoreCap Advisors LLC acquired a new stake in Oklo in the 4th quarter worth $32,000. Sandy Spring Bank acquired a new stake in Oklo in the 4th quarter worth $32,000. Covestor Ltd acquired a new stake in Oklo in the 4th quarter worth $34,000. Finally, KBC Group NV acquired a new stake in Oklo in the 1st quarter worth $36,000. Institutional investors own 85.03% of the company's stock.

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.