Oklo (NYSE:OKLO) Stock Price Up 5% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price shot up 5% during mid-day trading on Wednesday . The company traded as high as $97.00 and last traded at $96.4680. 7,914,603 shares were traded during trading, a decline of 57% from the average session volume of 18,291,258 shares. The stock had previously closed at $91.84.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OKLO. Bank of America decreased their price objective on Oklo from $117.00 to $111.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Seaport Res Ptn lowered Oklo from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. BTIG Research reiterated a “neutral” rating on shares of Oklo in a research report on Tuesday, August 12th. Barclays set a $146.00 price objective on Oklo in a research note on Monday, September 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Oklo in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $102.87.

Oklo Stock Performance

The company’s 50-day moving average price is $120.15 and its 200 day moving average price is $87.13. The stock has a market capitalization of $16.32 billion, a PE ratio of -193.44 and a beta of 0.73.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter in the prior year, the firm posted ($0.08) EPS. Analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Transactions at Oklo

In other news, insider William Carroll Murphy Goodwin sold 11,936 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $101.84, for a total value of $1,215,562.24. Following the completion of the transaction, the insider owned 8,750 shares in the company, valued at $891,100. This trade represents a 57.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total value of $33,678,000.00. Following the completion of the transaction, the chief executive officer owned 9,780,098 shares of the company’s stock, valued at approximately $1,097,913,801.48. This trade represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 467,800 shares of company stock worth $51,531,823 over the last 90 days. 18.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OKLO. Strategic Investment Solutions Inc. IL bought a new stake in Oklo during the third quarter worth about $114,000. Allworth Financial LP boosted its position in shares of Oklo by 10.1% in the 3rd quarter. Allworth Financial LP now owns 2,585 shares of the company’s stock worth $289,000 after purchasing an additional 238 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Oklo by 100.9% in the 3rd quarter. IFP Advisors Inc now owns 5,652 shares of the company’s stock worth $631,000 after buying an additional 2,839 shares during the last quarter. Swiss Life Asset Management Ltd bought a new position in Oklo during the 3rd quarter valued at approximately $535,000. Finally, Strategic Advocates LLC purchased a new position in Oklo during the third quarter valued at $43,000. 85.03% of the stock is currently owned by institutional investors.

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.