Oklo (NYSE:OKLO) Trading 5.9% Higher – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price shot up 5.9% during trading on Monday . The company traded as high as $62.06 and last traded at $61.7070. 8,194,456 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 10,984,823 shares. The stock had previously closed at $58.25.

Wall Street Analyst Weigh In

OKLO has been the topic of several recent analyst reports. William Blair reiterated an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Barclays dropped their price objective on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, February 23rd. Bank of America upgraded shares of Oklo from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $111.00 to $127.00 in a report on Wednesday, January 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $106.00 target price on shares of Oklo in a research 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 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.93.

Oklo Trading Up 5.9%

The stock’s 50-day moving average is $77.62 and its 200-day moving average is $95.86. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of -114.27 and a beta of 0.81.

Insider Activity at Oklo

In other news, CFO Richard Craig Bealmear sold 9,726 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 139,999 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $63.59, for a total value of $8,902,536.41. Following the completion of the transaction, the chief executive officer directly owned 679,024 shares in the company, valued at $43,179,136.16. This trade represents a 17.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,944,726 shares of company stock valued at $164,208,389. 18.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OKLO. Caprock Group LLC bought a new position in shares of Oklo during the third quarter worth about $14,829,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Oklo by 48.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,860 shares of the company’s stock valued at $18,403,000 after buying an additional 54,080 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Oklo by 298.6% in the third quarter. Envestnet Asset Management Inc. now owns 23,396 shares of the company’s stock valued at $2,612,000 after buying an additional 17,526 shares during the last quarter. Prospera Financial Services Inc raised its stake in Oklo by 10.0% during the second quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock valued at $2,880,000 after buying an additional 4,678 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC acquired a new stake in Oklo during the second quarter valued at approximately $738,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.