Oklo (NYSE:OKLO) Shares Gap Up – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $65.88, but opened at $71.87. Oklo shares last traded at $70.09, with a volume of 5,934,779 shares.

Trending Headlines about Oklo

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: The biggest driver is that the U.S. Department of Energy selected Oklo for advanced negotiations under the Surplus Plutonium Utilization Program, a major regulatory and strategic win that could help turn Cold War-era plutonium into commercial reactor fuel. DOE announcement sends OKLO stock up 10%
• Positive Sentiment: Oklo’s involvement in the DOE program reduces one of the key risks for advanced nuclear developers: access to reliable fuel supply, which supports the company’s path toward deployment. Altman-Backed Nuclear Firm Oklo Rises on US Reactor Fuel Program
• Positive Sentiment: Investor optimism is also being supported by recent commercialization milestones, including NRC progress on key technical documents and accelerated approval for the Aurora reactor design. Oklo’s NRC Win And Meta Deal Reframe Its AI Power Ambitions
• Positive Sentiment: The company’s growing commercial pipeline, including a power agreement with Meta for up to 1.2 gigawatts, adds to the market’s view that Oklo could become an important supplier of clean power for AI and data centers. Oklo’s NRC Win And Meta Deal Reframe Its AI Power Ambitions
• Positive Sentiment: Wall Street sentiment has also improved, with Bank of America reiterating a Buy rating and setting an $80 price target, reinforcing the bullish momentum. OKLO Stock Rises Premarket: Retail Doubles Down On Nuclear Energy Bet After Bullish Wall Street Call

Analyst Ratings Changes

OKLO has been the topic of a number of analyst reports. Craig Hallum reissued a “hold” rating on shares of Oklo in a research report on Wednesday, March 18th. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Oklo in a report on Wednesday, March 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Oklo in a report on Wednesday, May 13th. Finally, Needham & Company LLC reduced their target price on Oklo from $135.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.58.

Oklo Stock Performance

The stock has a fifty day simple moving average of $61.08 and a two-hundred day simple moving average of $75.78. The stock has a market cap of $12.25 billion, a price-to-earnings ratio of -83.84 and a beta of 1.16.

Oklo (NYSE:OKLO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period last year, the company posted ($0.07) earnings per share. Equities analysts expect that Oklo Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Activity at Oklo

In related news, insider William Carroll Murphy Goodwin sold 10,548 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the sale, the insider owned 36,175 shares of the company’s stock, valued at $2,099,597. This trade represents a 22.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 140,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $70.50, for a total value of $9,870,000.00. Following the sale, the chief executive officer directly owned 598,039 shares in the company, valued at approximately $42,161,749.50. This trade represents a 18.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 819,588 shares of company stock valued at $49,774,300 in the last 90 days. 18.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently modified their holdings of OKLO. Royal Bank of Canada boosted its holdings in shares of Oklo by 162.6% during the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after acquiring an additional 57,497 shares in the last quarter. AQR Capital Management LLC bought a new position in Oklo during the 1st quarter worth $519,000. Millennium Management LLC raised its position in Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after purchasing an additional 570,532 shares during the last quarter. NewEdge Advisors LLC raised its position in Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock worth $339,000 after purchasing an additional 9,772 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Oklo by 90.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock worth $2,439,000 after purchasing an additional 53,703 shares during the last quarter. 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.