Oklo (NYSE:OKLO) Shares Up 1.6% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) were up 1.6% on Monday . The company traded as high as $93.20 and last traded at $89.62. Approximately 24,503,631 shares were traded during trading, an increase of 32% from the average daily volume of 18,546,549 shares. The stock had previously closed at $88.17.

Analyst Ratings Changes

A number of equities analysts have commented on the company. UBS Group set a $175.00 price objective on Oklo in a research note on Thursday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 price target on shares of Oklo in a report on Wednesday, November 12th. HC Wainwright increased their price objective on shares of Oklo from $55.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. The Goldman Sachs Group started coverage on shares of Oklo in a research report on Thursday, September 25th. They issued a “neutral” rating and a $117.00 price objective for the company. Finally, Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $106.29.

Oklo Trading Up 3.6%

The business’s 50-day simple moving average is $124.50 and its 200-day simple moving average is $84.49.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period in the prior year, the business posted ($0.08) EPS. Equities research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the transaction, the chief executive officer owned 9,780,098 shares of the company’s stock, valued at $1,097,913,801.48. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the transaction, the director owned 150,000 shares of the company’s stock, valued at approximately $20,064,000. This represents a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 503,323 shares of company stock worth $53,914,143. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

A number of large investors have recently made changes to their positions in the company. Armstrong Advisory Group Inc. acquired a new position in Oklo in the third quarter valued at about $27,000. Gables Capital Management Inc. bought a new position in shares of Oklo during the 3rd quarter valued at about $28,000. Nemes Rush Group LLC bought a new position in shares of Oklo during the 3rd quarter valued at about $28,000. CI Investments Inc. grew its position in shares of Oklo by 153.0% in the 3rd quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after purchasing an additional 179 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Oklo during the 3rd quarter worth approximately $33,000. 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.