Oklo (NYSE:OKLO) Trading Up 14.5% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price was up 14.5% during trading on Friday . The stock traded as high as $72.18 and last traded at $71.16. Approximately 12,627,453 shares were traded during trading, a decline of 9% from the average daily volume of 13,946,089 shares. The stock had previously closed at $62.14.

Analyst Upgrades and Downgrades

Several brokerages have commented on OKLO. Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and raised their price target for the company from $111.00 to $127.00 in a report on Wednesday, January 21st. Zacks Research lowered Oklo from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $122.00 target price on shares of Oklo in a research report on Wednesday, November 12th. Texas Capital upgraded Oklo to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Oklo in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and an average target price of $103.20.

Oklo Stock Up 14.5%

The stock has a 50-day simple moving average of $87.32 and a two-hundred day simple moving average of $96.91. The firm has a market cap of $11.12 billion, a PE ratio of -131.78 and a beta of 0.76.

Oklo (NYSE:OKLO) last announced 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 in the previous year, the company posted ($0.08) earnings per share. Research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 840,000 shares of Oklo stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the transaction, the chief executive officer directly owned 1,580,000 shares of the company’s stock, valued at approximately $130,065,600. This trade represents a 34.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Craig Bealmear sold 69,841 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $78.40, for a total transaction of $5,475,534.40. Following the completion of the sale, the chief financial officer directly owned 202,072 shares of the company’s stock, valued at $15,842,444.80. This trade represents a 25.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,762,526 shares of company stock worth $153,283,847 over the last ninety days. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after acquiring an additional 2,968,981 shares during the period. Vanguard Group Inc. increased its stake in Oklo by 33.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after purchasing an additional 2,901,909 shares during the period. State Street Corp lifted its position in Oklo by 454.5% in the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after purchasing an additional 1,488,482 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Oklo by 61.0% in the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after purchasing an additional 1,316,867 shares during the last quarter. 85.03% of the stock is owned by institutional investors.

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.