Oklo (NYSE:OKLO) Trading 4.2% Higher - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price rose 4.2% during trading on Friday . The stock traded as high as $54.30 and last traded at $53.49. Approximately 8,869,152 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 14,485,309 shares. The stock had previously closed at $51.33.

Analyst Upgrades and Downgrades

OKLO has been the topic of several research reports. Craig Hallum lowered Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a report on Monday, June 23rd. Citigroup reaffirmed a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. HC Wainwright started coverage on Oklo in a report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price objective on the stock. Finally, BTIG Research started coverage on Oklo in a report on Friday, April 11th. They set a "neutral" rating on the stock. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

Oklo Stock Up 4.2%

The stock has a fifty day moving average of $46.24 and a 200-day moving average of $35.56. The stock has a market cap of $7.46 billion, a PE ratio of -9.89 and a beta of 0.57.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. Equities research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the transaction, the chief executive officer owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the completion of the sale, the director owned 250,000 shares of the company's stock, valued at approximately $15,685,000. The trade was a 37.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 600,000 shares of company stock worth $35,066,500. Corporate insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the period. Raymond James Financial Inc. acquired a new stake in Oklo in the fourth quarter valued at about $2,209,000. Steward Partners Investment Advisory LLC lifted its position in Oklo by 2,386.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company's stock valued at $198,000 after purchasing an additional 8,950 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of Oklo during the 4th quarter valued at approximately $1,693,000. Finally, LPL Financial LLC acquired a new stake in shares of Oklo during the 4th quarter valued at approximately $2,762,000. 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.