Oklo (NYSE:OKLO) Trading Up 3% – Here’s What Happened

by · The Markets Daily

Oklo Inc. (NYSE:OKLOGet Free Report) shares were up 3% during trading on Friday . The company traded as high as $68.19 and last traded at $65.8260. Approximately 6,052,633 shares traded hands during trading, a decline of 54% from the average daily volume of 13,017,869 shares. The stock had previously closed at $63.92.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKLO. Texas Capital upgraded Oklo to a “strong-buy” rating in a research report on Tuesday, January 27th. Bank of America raised Oklo from a “neutral” rating to a “buy” rating and increased their target price for the company from $111.00 to $127.00 in a research note on Wednesday, January 21st. Wedbush restated an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oklo in a research note on Thursday, January 22nd. Finally, UBS Group reissued a “neutral” rating on shares of Oklo in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.20.

Get Our Latest Report on OKLO

Oklo Stock Up 3.0%

The company’s fifty day moving average price is $85.08 and its two-hundred day moving average price is $96.64. The company has a market cap of $10.29 billion, a price-to-earnings ratio of -121.90 and a beta of 0.76.

Oklo (NYSE:OKLOGet Free Report) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter last year, the company earned ($0.08) EPS. On average, equities research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $74.45, for a total value of $4,467,000.00. Following the sale, the chief executive officer owned 748,197 shares of the company’s stock, valued at approximately $55,703,266.65. This trade represents a 7.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Craig Bealmear sold 9,726 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $76.93, for a total value of $748,221.18. Following the transaction, the chief financial officer directly owned 196,913 shares of the company’s stock, valued at approximately $15,148,517.09. This trade represents a 4.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,762,526 shares of company stock worth $153,283,847. Corporate insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Caprock Group LLC acquired a new stake in Oklo during the 3rd quarter worth about $14,829,000. Black Swift Group LLC bought a new stake in shares of Oklo during the 2nd quarter valued at about $280,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Oklo by 48.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,860 shares of the company’s stock worth $18,403,000 after purchasing an additional 54,080 shares during the period. Prospera Financial Services Inc increased its holdings in Oklo by 10.0% in the second quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock worth $2,880,000 after purchasing an additional 4,678 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC acquired a new position in Oklo in the second quarter valued at approximately $738,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Company Profile

(Get Free Report)

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.

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