Oklo (NYSE:OKLO) Trading 3.7% Higher - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report) shares shot up 3.7% during trading on Friday . The stock traded as high as $48.93 and last traded at $48.89. 4,624,505 shares were traded during trading, a decline of 65% from the average session volume of 13,047,913 shares. The stock had previously closed at $47.16.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKLO. CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and upped their price target for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. William Blair began coverage on shares of Oklo in a research report on Wednesday, May 28th. They set an "outperform" rating on the stock. Wedbush upped their price target on shares of Oklo from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Citigroup reaffirmed a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. Finally, BTIG Research began coverage on shares of Oklo in a research report on Friday, April 11th. They set a "neutral" rating on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Oklo currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.67.

Oklo Price Performance

The company has a market capitalization of $7.00 billion, a P/E ratio of -9.30 and a beta of 0.58. The company's 50-day moving average price is $31.89 and its two-hundred day moving average price is $30.44.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data 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. On average, analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jacob Dewitte sold 35,365 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $25.15, for a total value of $889,429.75. Following the transaction, the chief executive officer now directly owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John M. Jansen purchased 6,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company's stock, valued at $147,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company's stock.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its stake in shares of Oklo by 5.7% in the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock valued at $163,000 after acquiring an additional 416 shares in the last quarter. Signaturefd LLC grew its stake in Oklo by 5.4% during the first quarter. Signaturefd LLC now owns 8,962 shares of the company's stock worth $194,000 after buying an additional 462 shares in the last quarter. Spire Wealth Management grew its stake in Oklo by 14.1% during the first quarter. Spire Wealth Management now owns 3,896 shares of the company's stock worth $84,000 after buying an additional 481 shares in the last quarter. Intrua Financial LLC grew its stake in Oklo by 4.2% during the first quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock worth $289,000 after buying an additional 535 shares in the last quarter. Finally, Ancora Advisors LLC grew its stake in Oklo by 18.2% during the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company's stock worth $98,000 after buying an additional 710 shares in 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.