Oklo (NYSE:OKLO) Shares Up 2.2% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price shot up 2.2% during trading on Friday . The company traded as high as $27.39 and last traded at $26.89. 5,072,308 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 15,638,787 shares. The stock had previously closed at $26.31.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of research analyst reports. HC Wainwright assumed coverage on shares of Oklo in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target for the company. Wedbush reaffirmed an "outperform" rating and set a $45.00 target price on shares of Oklo in a research note on Tuesday, March 25th. Citigroup lowered their target price on Oklo from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. BTIG Research assumed coverage on Oklo in a research note on Friday, April 11th. They set a "neutral" rating on the stock. Finally, Craig Hallum assumed coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Oklo presently has an average rating of "Moderate Buy" and a consensus target price of $46.40.

Oklo Stock Down 7.9 %

The company has a market capitalization of $3.68 billion, a PE ratio of -2.61 and a beta of -0.02. The stock's 50 day moving average is $24.84 and its two-hundred day moving average is $27.27.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). On average, sell-side analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John M. Jansen bought 6,000 shares of the stock in a transaction on Thursday, March 27th. The stock was bought at an average cost 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 in the company, valued at approximately $147,420. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 41,000 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the sale, the chief executive officer now owns 10,852,926 shares of the company's stock, valued at approximately $236,593,786.80. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

A number of large investors have recently modified their holdings of OKLO. Barclays PLC raised its position in shares of Oklo by 5.7% in the 4th 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 last quarter. Signaturefd LLC raised its holdings in shares of Oklo by 5.4% in the first quarter. Signaturefd LLC now owns 8,962 shares of the company's stock worth $194,000 after buying an additional 462 shares during the last quarter. Spire Wealth Management lifted 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 worth $84,000 after buying an additional 481 shares during the period. Ancora Advisors LLC grew its holdings 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 buying an additional 710 shares during the last quarter. Finally, Sowell Financial Services LLC grew its holdings in shares of 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 last quarter. 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.