Oklo (NYSE:OKLO) Stock Price Up 3.7% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price traded up 3.7% during mid-day trading on Friday . The stock traded as high as $96.70 and last traded at $94.85. 15,357,163 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 15,319,879 shares. The stock had previously closed at $91.45.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays set a $146.00 target price on shares of Oklo in a research report on Monday, September 29th. Bank of America cut their price target on shares of Oklo from $117.00 to $111.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 target price on shares of Oklo in a research report on Wednesday, November 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Oklo in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $102.13.

Oklo Stock Up 3.7%

The firm has a market cap of $14.82 billion, a P/E ratio of -175.65 and a beta of 0.76. The business’s 50 day moving average is $91.49 and its two-hundred day moving average is $94.45.

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

Insider Activity at Oklo

In related news, CFO Richard Craig Bealmear sold 5,159 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $76.97, for a total transaction of $397,088.23. Following the transaction, the chief financial officer owned 196,913 shares in the company, valued at $15,156,393.61. The trade was a 2.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 26,740 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $111.38, for a total transaction of $2,978,301.20. Following the transaction, the chief executive officer directly owned 808,197 shares in the company, valued at approximately $90,016,981.86. This represents a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,552,800 shares of company stock valued at $137,543,426 in the last ninety days. 18.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caldwell Sutter Capital Inc. acquired a new stake in shares of Oklo in the 2nd quarter valued at about $25,000. Private Trust Co. NA bought a new position in Oklo in the second quarter worth approximately $25,000. Fourth Dimension Wealth LLC grew its stake in Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after acquiring an additional 250 shares during the period. GAMMA Investing LLC grew its stake in Oklo by 356.3% in the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after acquiring an additional 285 shares during the period. Finally, Armstrong Advisory Group Inc. bought a new stake in shares of Oklo during the third quarter valued at approximately $27,000. 85.03% of the stock is owned by institutional investors.

About Oklo

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.