Oklo (NYSE:OKLO) Trading 2.9% Higher – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) were up 2.9% during mid-day trading on Tuesday . The company traded as high as $69.59 and last traded at $67.62. Approximately 6,054,217 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 12,793,865 shares. The stock had previously closed at $65.69.

Analyst Ratings Changes

Several brokerages have weighed in on OKLO. Zacks Research downgraded Oklo from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Oklo in a report on Thursday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 price objective on shares of Oklo in a report on Wednesday, November 12th. Wedbush reiterated an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. Finally, William Blair restated an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Oklo has an average rating of “Moderate Buy” and an average price target of $103.20.

Oklo Stock Up 0.1%

The stock has a market capitalization of $10.54 billion, a P/E ratio of -124.89 and a beta of 0.76. The firm’s 50-day simple moving average is $81.43 and its 200 day simple moving average is $96.39.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $75.18, for a total value of $10,525,200.00. Following the transaction, the chief executive officer owned 739,023 shares of the company’s stock, valued at approximately $55,559,749.14. This represents a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Craig Bealmear sold 9,726 shares of the 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 sale, the chief financial officer owned 196,913 shares of the company’s stock, valued at $15,148,517.09. This trade represents a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,750,590 shares of company stock worth $152,068,284 over the last quarter. Insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently modified their holdings of the stock. Mcguire Capital Advisors Inc. acquired a new stake in shares of Oklo during the fourth quarter worth $1,565,000. Corient Private Wealth LLC increased its stake in Oklo by 7.9% in the 4th quarter. Corient Private Wealth LLC now owns 241,436 shares of the company’s stock worth $17,325,000 after purchasing an additional 17,721 shares in the last quarter. CrossGen Wealth LLC purchased a new position in Oklo in the 4th quarter worth about $45,000. Delta Global Management LP acquired a new stake in Oklo during the 4th quarter worth about $2,206,000. Finally, EP Wealth Advisors LLC acquired a new stake in Oklo during the 4th quarter worth about $223,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.