Oklo (NYSE:OKLO) Shares Up 9.4% After Insider Buying Activity

Oklo Inc. (NYSE:OKLO)’s stock price was up 9.4% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $23.52 and last traded at $23.66. Approximately 5,459,557 shares traded hands during trading, a decline of 53% from the average daily volume of 11,671,500 shares. The stock had previously closed at $21.63.

Specifically, Director John M. Jansen bought 6,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now owns 6,000 shares of the company’s stock, valued at $147,420. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

OKLO has been the topic of several research analyst reports. Craig Hallum assumed coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective on the stock. Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a research report on Tuesday, March 25th. Citigroup decreased their price target on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Finally, B. Riley boosted their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Stock Up 0.9 %

The company has a 50 day moving average of $35.61 and a 200 day moving average of $24.96. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -2.24 and a beta of -0.28.

Oklo (NYSE:OKLO) last issued its earnings results on Monday, March 24th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). As a group, equities research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. bought a new position in Oklo in the 4th quarter valued at about $27,000. CoreCap Advisors LLC bought a new stake in shares of Oklo in the 4th quarter worth $32,000. Sandy Spring Bank bought a new position in Oklo during the fourth quarter valued at about $32,000. Covestor Ltd acquired a new position in Oklo during the fourth quarter worth about $34,000. Finally, Anfield Capital Management LLC bought a new position in shares of Oklo during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.