Oklo (NYSE:OKLO) Shares Up 3.7% – What’s Next?
by Danessa Lincoln · The Markets DailyOklo Inc. (NYSE:OKLO – Get Free Report) traded up 3.7% during mid-day trading on Wednesday . The company traded as high as $66.18 and last traded at $65.63. 6,125,413 shares were traded during trading, a decline of 45% from the average session volume of 11,162,223 shares. The stock had previously closed at $63.30.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Barclays lowered their target price on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $122.00 price target on shares of Oklo in a report on Wednesday, November 12th. Texas Capital upgraded Oklo to a “strong-buy” rating in a research note on Tuesday, January 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $106.00 price objective on shares of Oklo in a report on Friday, January 9th. Finally, Zacks Research downgraded shares of Oklo from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.93.
Get Our Latest Stock Analysis on Oklo
Oklo Trading Down 5.9%
The stock has a fifty day simple moving average of $77.99 and a two-hundred day simple moving average of $95.52. The firm has a market cap of $9.12 billion, a PE ratio of -108.06 and a beta of 0.80.
Insider Buying and Selling
In other Oklo news, CFO Richard Craig Bealmear sold 9,726 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $76.93, for a total value of $748,221.18. Following the sale, the chief financial officer directly owned 196,913 shares in the company, valued at $15,148,517.09. This represents a 4.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 60,001 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $62.60, for a total transaction of $3,756,062.60. Following the transaction, the chief executive officer owned 688,196 shares of the company’s stock, valued at $43,081,069.60. This trade represents a 8.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,944,726 shares of company stock worth $164,208,389 in the last ninety days. 18.90% of the stock is currently owned by insiders.
Institutional Trading of Oklo
Large investors have recently modified their holdings of the business. Plancorp LLC increased its position in shares of Oklo by 1.2% in the third quarter. Plancorp LLC now owns 6,089 shares of the company’s stock worth $680,000 after purchasing an additional 73 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Oklo by 3.7% in the third quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock worth $293,000 after acquiring an additional 94 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in Oklo by 1.5% during the third quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock valued at $789,000 after purchasing an additional 101 shares in the last quarter. Meriwether Wealth & Planning LLC lifted its stake in Oklo by 2.7% during the fourth quarter. Meriwether Wealth & Planning LLC now owns 4,545 shares of the company’s stock worth $326,000 after purchasing an additional 120 shares during the last quarter. Finally, Rossby Financial LCC boosted its holdings in shares of Oklo by 75.0% in the 3rd quarter. Rossby Financial LCC now owns 350 shares of the company’s stock worth $41,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 85.03% of the company’s stock.
Oklo Company Profile
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.