Oklo (NYSE:OKLO) Stock Price Up 3.3% - Here's Why

Key Points

• Oklo Inc.'s stock price increased by 3.3% to $115.37, with approximately 18.3 million shares traded, slightly below the average daily volume.
• Analyst ratings are mixed, with one upgrade to "strong-buy" by Daiwa America, while BNP Paribas rated it a "strong sell", indicating varying investor sentiment.
• Insider trading activity saw significant sales, including 50,000 shares sold by Director Michael Stuart Klein, which has raised concerns about insider confidence in the stock.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price rose 3.3% during trading on Wednesday . The stock traded as high as $116.68 and last traded at $115.37. Approximately 18,256,372 shares were traded during trading, a decline of 1% from the average daily volume of 18,435,289 shares. The stock had previously closed at $111.63.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. BNP Paribas raised Oklo to a "strong sell" rating in a research report on Friday, July 25th. Citigroup boosted their price target on Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group began coverage on Oklo in a research report on Thursday, September 25th. They issued a "neutral" rating and a $117.00 price objective for the company. Finally, William Blair restated an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $83.77.

Oklo Stock Performance

The stock has a market cap of $17.03 billion, a price-to-earnings ratio of -274.68 and a beta of 0.59. The firm's 50-day simple moving average is $84.08 and its two-hundred day simple moving average is $55.55.

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

Insider Transactions at Oklo

In related news, Director Michael Stuart Klein sold 50,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the transaction, the director owned 150,000 shares in the company, valued at $20,064,000. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Craig Bealmear sold 7,622 shares of Oklo stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $101.44, for a total value of $773,175.68. Following the completion of the sale, the chief financial officer owned 121,913 shares of the company's stock, valued at approximately $12,366,854.72. The trade was a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,387 shares of company stock worth $19,020,580 over the last 90 days. 18.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Oklo

Large investors have recently bought and sold shares of the business. KBC Group NV grew its holdings in Oklo by 11.8% during the 2nd quarter. KBC Group NV now owns 1,849 shares of the company's stock worth $104,000 after acquiring an additional 195 shares during the period. Fourth Dimension Wealth LLC boosted its position in shares of Oklo by 125.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after purchasing an additional 250 shares during the last quarter. MRA Advisory Group grew its stake in shares of Oklo by 2.8% during the second quarter. MRA Advisory Group now owns 9,770 shares of the company's stock worth $547,000 after purchasing an additional 266 shares during the period. Rothschild Investment LLC grew its stake in shares of Oklo by 82.9% during the second quarter. Rothschild Investment LLC now owns 640 shares of the company's stock worth $36,000 after purchasing an additional 290 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its holdings in Oklo by 107.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after purchasing an additional 305 shares during the last quarter. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.