Oklo (NYSE:OKLO) Stock Price Up 2% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report) shares traded up 2% during mid-day trading on Friday . The company traded as high as $22.19 and last traded at $21.99. 4,576,112 shares were traded during trading, a decline of 61% from the average session volume of 11,694,299 shares. The stock had previously closed at $21.56.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. B. Riley increased their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Citigroup reduced their price objective on shares of Oklo from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. BTIG Research initiated coverage on Oklo in a research report on Friday, April 11th. They set a "neutral" rating on the stock. Wedbush reissued an "outperform" rating and issued a $45.00 price target on shares of Oklo in a research report on Tuesday, March 25th. Finally, Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.25.

Oklo Price Performance

The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -2.13 and a beta of -0.01. The firm has a fifty day simple moving average of $28.80 and a two-hundred day simple moving average of $26.40.

Oklo (NYSE:OKLO - Get Free Report) last released its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Equities analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 41,000 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the transaction, the chief executive officer now owns 10,852,926 shares of the company's stock, valued at $236,593,786.80. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John M. Jansen purchased 6,000 shares of the business's stock in a transaction on Thursday, March 27th. The shares were bought at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $147,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company's stock.

Institutional Trading of Oklo

Hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its position in Oklo by 5.7% in the 4th quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after purchasing an additional 416 shares in the last quarter. Ancora Advisors LLC boosted its holdings 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. Sowell Financial Services LLC grew its position in Oklo by 5.4% during the first quarter. Sowell Financial Services LLC now owns 15,275 shares of the company's stock valued at $330,000 after buying an additional 782 shares during the period. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo in the fourth quarter worth about $27,000. Finally, CoreCap Advisors LLC purchased a new stake in shares of Oklo during the 4th quarter worth about $32,000. Hedge funds and other 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.