Oklo (NYSE:OKLO) Stock Price Up 9.4% Following Insider Buying Activity

Oklo Inc. (NYSE:OKLO)’s share price rose 9.4% on Tuesday following insider buying activity. The stock traded as high as $23.52 and last traded at $23.66. Approximately 5,459,557 shares changed 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 acquired 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of $24.57 per share, with a total value of $147,420.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at $147,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Craig Hallum assumed coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price for the company. Citigroup cut their price target on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a research note on Tuesday, March 25th. Finally, B. Riley boosted their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Oklo presently has an average rating of “Moderate Buy” and an average price target of $44.25.

Oklo Stock Up 0.9 %

The firm has a market capitalization of $3.16 billion, a PE ratio of -2.24 and a beta of -0.28. The business’s 50-day moving average price is $35.61 and its 200-day moving average price is $24.96.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). On average, analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently made changes to their positions in the company. Triton Wealth Management PLLC bought a new position in shares of Oklo during the 4th quarter valued at $559,000. Windmill Hill Asset Management Ltd acquired a new stake in shares of Oklo in the fourth quarter worth about $1,476,000. Polar Asset Management Partners Inc. bought a new stake in shares of Oklo during the 4th quarter worth about $781,000. Alpine Global Management LLC bought a new position in shares of Oklo in the 4th quarter valued at approximately $427,000. Finally, Value Aligned Research Advisors LLC acquired a new stake in Oklo in the 4th quarter worth approximately $1,209,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.