Oklo (NYSE:OKLO) Shares Up 9.4% on Insider Buying Activity

Shares of Oklo Inc. (NYSE:OKLO) shot up 9.4% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $23.52 and last traded at $23.66. 5,459,557 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 11,671,500 shares. The stock had previously closed at $21.63.

Specifically, Director John M. Jansen purchased 6,000 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was purchased 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 in the company, valued at approximately $147,420. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

OKLO has been the subject of several analyst reports. Citigroup cut 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. Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Oklo in a report on Tuesday, March 25th. Finally, B. Riley lifted their price target on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Oklo Stock Performance

The company has a 50-day simple moving average of $36.01 and a 200-day simple moving average of $24.86. The stock has a market cap of $3.31 billion, a P/E ratio of -2.36 and a beta of -0.28.

Oklo (NYSE:OKLO) last posted its quarterly earnings data 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). As a group, sell-side analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oklo

Several hedge funds have recently added to or reduced their stakes in OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Oklo by 1.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock valued at $104,646,000 after acquiring an additional 74,315 shares during the period. Vanguard Group Inc. boosted its position in shares of Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Oklo during the third quarter worth $19,753,000. Van ECK Associates Corp acquired a new position in shares of Oklo in the 4th quarter valued at $38,661,000. Finally, Atomi Financial Group Inc. bought a new stake in shares of Oklo in the 4th quarter valued at $19,285,000. Institutional investors and hedge funds 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.