Oklo (NYSE:OKLO) Shares Up 6.3% After Analyst Upgrade

Oklo Inc. (NYSE:OKLO) shot up 6.3% during mid-day trading on Wednesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $105.88 and last traded at $102.7140. 15,297,745 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 18,497,813 shares. The stock had previously closed at $96.63.

A number of other analysts have also weighed in on the company. Barclays set a $146.00 price objective on shares of Oklo in a research note on Monday, September 29th. Seaport Res Ptn lowered shares of Oklo from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. BNP Paribas Exane assumed coverage on Oklo in a report on Friday, July 25th. They set an “underperform” rating and a $14.00 price target for the company. Canaccord Genuity Group assumed coverage on shares of Oklo in a report on Thursday, October 9th. They set a “buy” rating and a $175.00 price objective for the company. Finally, HC Wainwright lifted their price objective on Oklo from $55.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Oklo currently has an average rating of “Hold” and a consensus target price of $106.29.

Insider Buying and Selling

In related news, CFO Richard Craig Bealmear sold 92,378 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $93.73, for a total value of $8,658,589.94. Following the transaction, the chief financial officer owned 75,738 shares of the company’s stock, valued at $7,098,922.74. This represents a 54.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $70.09, for a total value of $2,900,814.83. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 503,323 shares of company stock worth $53,914,143 in the last 90 days. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

A number of institutional investors have recently made changes to their positions in OKLO. Vanguard Group Inc. raised its holdings in shares of Oklo by 33.4% during the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after purchasing an additional 2,901,909 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after buying an additional 2,968,981 shares during the period. Van ECK Associates Corp increased its stake in shares of Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after purchasing an additional 1,316,867 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Oklo by 195.9% in the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock worth $125,906,000 after acquiring an additional 1,488,482 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after buying an additional 1,752,946 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Trading Up 0.2%

The firm has a fifty day moving average price of $124.82 and a 200 day moving average price of $82.87. The firm has a market cap of $13.78 billion, a PE ratio of -163.28 and a beta of 0.70.

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

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.