Oklo (NYSE:OKLO) Shares Gap Up Following Insider Buying Activity

Oklo Inc. (NYSE:OKLO)’s share price gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $21.63, but opened at $22.88. Oklo shares last traded at $22.49, with a volume of 2,817,561 shares traded.

Specifically, Director John M. Jansen bought 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $147,420. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OKLO shares. Citigroup lowered their price objective on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. B. Riley lifted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Wedbush restated an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a report on Tuesday, March 25th. Finally, Craig Hallum started coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.25.

Oklo Trading Up 0.9 %

The stock has a 50-day moving average of $35.61 and a two-hundred 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 released its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Sell-side analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Institutional Trading of Oklo

A number of hedge funds have recently modified their holdings of OKLO. Atomi Financial Group Inc. acquired a new position in Oklo during the fourth quarter valued at $19,285,000. Archford Capital Strategies LLC acquired a new stake in shares of Oklo during the 4th quarter valued at about $212,000. Raymond James Financial Inc. bought a new stake in shares of Oklo in the 4th quarter valued at approximately $2,209,000. Barclays PLC acquired a new position in Oklo in the third quarter worth approximately $58,000. Finally, Steward Partners Investment Advisory LLC raised its position in Oklo by 2,386.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company’s stock valued at $198,000 after acquiring an additional 8,950 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

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.