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

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $39.73, but opened at $41.33. Oklo shares last traded at $37.64, with a volume of 3,937,117 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Craig Hallum initiated coverage on shares of Oklo in a report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price objective for the company. B. Riley boosted their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Wedbush set a $45.00 price objective on Oklo and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Citigroup restated a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. Finally, HC Wainwright initiated coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Oklo currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.40.

Oklo Price Performance

The firm's 50-day simple moving average is $26.14 and its 200 day simple moving average is $28.14. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of -6.95 and a beta of -0.02.

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

Insider Activity at Oklo

In other news, CEO Jacob Dewitte sold 35,365 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 11,033,561 shares of the company's stock, valued at $277,494,059.15. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John M. Jansen acquired 6,000 shares of Oklo stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the purchase, the director now owns 6,000 shares of the company's stock, valued at $147,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently made changes to their positions in OKLO. Barclays PLC acquired a new stake in Oklo during the 3rd quarter valued at approximately $58,000. Janney Montgomery Scott LLC acquired a new stake in shares of Oklo during the fourth quarter worth $617,000. Secure Asset Management LLC acquired a new stake in shares of Oklo during the fourth quarter worth $1,403,000. Exchange Traded Concepts LLC bought a new stake in Oklo during the fourth quarter valued at $9,686,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Oklo during the 4th quarter worth about $629,000. Institutional investors and hedge funds 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.