Oklo (NYSE:OKLO) Stock Price Up 2.3% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares traded up 2.3% during mid-day trading on Wednesday . The company traded as high as $64.10 and last traded at $62.7850. 6,112,235 shares traded hands during trading, a decline of 43% from the average session volume of 10,808,225 shares. The stock had previously closed at $61.38.

Wall Street Analyst Weigh In

Several analysts have recently commented on OKLO shares. UBS Group reiterated a “neutral” rating on shares of Oklo in a report on Monday, January 12th. Wedbush reaffirmed an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. Needham & Company LLC reiterated a “buy” rating on shares of Oklo in a research note on Friday, January 9th. Texas Capital raised shares of Oklo to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oklo in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.93.

Oklo Price Performance

The firm has a fifty day simple moving average of $76.75 and a two-hundred day simple moving average of $95.28. The firm has a market capitalization of $9.12 billion, a P/E ratio of -108.07 and a beta of 0.80.

Insider Buying and Selling

In related news, CFO Richard Craig Bealmear sold 9,726 shares of Oklo stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $76.93, for a total value of $748,221.18. Following the completion of the sale, the chief financial officer owned 196,913 shares of the company’s stock, valued at approximately $15,148,517.09. This trade represents a 4.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 2,820 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $56.69, for a total transaction of $159,865.80. Following the sale, the insider directly owned 15,991 shares in the company, valued at approximately $906,529.79. This trade represents a 14.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,947,546 shares of company stock valued at $164,368,254. 18.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. Caprock Group LLC bought a new position in shares of Oklo in the third quarter valued at approximately $14,829,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Oklo by 48.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,860 shares of the company’s stock valued at $18,403,000 after acquiring an additional 54,080 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Oklo by 298.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 23,396 shares of the company’s stock worth $2,612,000 after acquiring an additional 17,526 shares during the period. Wealthedge Investment Advisors LLC bought a new stake in Oklo during the 2nd quarter worth approximately $738,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Oklo in the 3rd quarter worth approximately $2,177,000. 85.03% of the stock is owned by institutional investors.

About Oklo

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.