Oklo (NYSE:OKLO) Trading 3.4% Higher - Here's What Happened

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) rose 3.4% on Thursday . The company traded as high as $53.53 and last traded at $53.08. Approximately 4,117,809 shares changed hands during trading, a decline of 71% from the average daily volume of 14,418,046 shares. The stock had previously closed at $51.33.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of recent analyst reports. Craig Hallum lowered Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price for the company. in a report on Monday, June 23rd. William Blair initiated coverage on Oklo in a report on Wednesday, May 28th. They set an "outperform" rating for the company. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and lifted their target price for the company from $50.00 to $74.00 in a report on Tuesday, May 27th. BTIG Research initiated coverage on Oklo in a report on Friday, April 11th. They set a "neutral" rating for the company. Finally, Citigroup reaffirmed a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.50.

Oklo Price Performance

The company has a market cap of $7.46 billion, a PE ratio of -9.89 and a beta of 0.57. The company has a fifty day moving average price of $46.24 and a 200 day moving average price of $35.68.

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

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 300,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $55.20, for a total value of $16,560,000.00. Following the completion of the sale, the chief executive officer owned 10,105,098 shares in the company, valued at $557,801,409.60. The trade was a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total value of $2,742,500.00. Following the completion of the sale, the director owned 200,000 shares of the company's stock, valued at $10,970,000. The trade was a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 600,000 shares of company stock valued at $35,066,500 in the last 90 days. 18.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

A number of hedge funds have recently bought and sold shares of OKLO. Barclays PLC boosted its stake in shares of Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock valued at $163,000 after purchasing an additional 416 shares during the period. Signaturefd LLC boosted its stake in shares of Oklo by 5.4% during the first quarter. Signaturefd LLC now owns 8,962 shares of the company's stock valued at $194,000 after purchasing an additional 462 shares during the period. Spire Wealth Management boosted its stake in shares of Oklo by 14.1% during the first quarter. Spire Wealth Management now owns 3,896 shares of the company's stock valued at $84,000 after purchasing an additional 481 shares during the period. Intrua Financial LLC boosted its stake in shares of Oklo by 4.2% during the first quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock valued at $289,000 after purchasing an additional 535 shares during the period. Finally, Ancora Advisors LLC boosted its stake in shares of Oklo by 18.2% during the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company's stock valued at $98,000 after purchasing an additional 710 shares during the period. 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.