Oklo (NYSE:OKLO) Stock Price Up 9.3% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price rose 9.3% during mid-day trading on Friday . The stock traded as high as $138.66 and last traded at $136.25. Approximately 18,015,192 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 18,903,543 shares. The stock had previously closed at $124.70.

Analyst Ratings Changes

OKLO has been the topic of several recent research reports. Canaccord Genuity Group initiated coverage on Oklo in a research report on Thursday, October 9th. They issued a “buy” rating and a $175.00 price objective on the stock. Bank of America reiterated a “neutral” rating and set a $117.00 target price (up from $92.00) on shares of Oklo in a research report on Tuesday, September 30th. BNP Paribas upgraded Oklo to a “strong sell” rating in a research report on Friday, July 25th. The Goldman Sachs Group began coverage on Oklo in a research report on Thursday, September 25th. They set a “neutral” rating and a $117.00 target price on the stock. Finally, HC Wainwright increased their target price on Oklo from $55.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $98.14.

Oklo Stock Performance

The business has a fifty day moving average price of $108.62 and a 200 day moving average price of $70.43. The company has a market capitalization of $20.11 billion, a PE ratio of -324.39 and a beta of 0.69.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In other news, insider William Carroll Murphy Goodwin sold 41,387 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $70.09, for a total value of $2,900,814.83. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the transaction, the director owned 150,000 shares in the company, valued at approximately $20,064,000. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,387 shares of company stock valued at $52,698,580. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

A number of large investors have recently modified their holdings of the stock. Plancorp LLC grew its stake in shares of Oklo by 1.2% in the third quarter. Plancorp LLC now owns 6,089 shares of the company’s stock valued at $680,000 after buying an additional 73 shares in the last quarter. Howard Financial Services LTD. grew its stake in shares of Oklo by 3.8% in the third quarter. Howard Financial Services LTD. now owns 4,333 shares of the company’s stock valued at $484,000 after buying an additional 158 shares in the last quarter. KBC Group NV grew its stake in shares of Oklo by 11.8% in the second quarter. KBC Group NV now owns 1,849 shares of the company’s stock valued at $104,000 after buying an additional 195 shares in the last quarter. Pasadena Private Wealth LLC grew its stake in shares of Oklo by 5.8% in the third quarter. Pasadena Private Wealth LLC now owns 3,802 shares of the company’s stock valued at $424,000 after buying an additional 210 shares in the last quarter. Finally, Armstrong Advisory Group Inc. acquired a new stake in shares of Oklo in the third quarter valued at about $27,000. 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.