Oklo (NYSE:OKLO) Shares Gap Up – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) gapped up prior to trading on Tuesday . The stock had previously closed at $21.93, but opened at $23.88. Oklo shares last traded at $22.74, with a volume of 2,561,689 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Citigroup dropped their target price on Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. B. Riley raised their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $45.00 price target on shares of Oklo in a research report on Tuesday, March 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Oklo has a consensus rating of “Moderate Buy” and an average target price of $44.25.

Oklo Stock Down 2.8 %

The stock’s 50 day moving average price is $34.65 and its 200-day moving average price is $25.40. The stock has a market capitalization of $2.96 billion, a PE ratio of -2.14 and a beta of -0.01.

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

Insider Transactions at Oklo

In related news, Director John M. Jansen acquired 6,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were acquired at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of Oklo stock in a transaction on Monday, March 31st. The stock was sold at an average price of $21.80, for a total transaction of $893,800.00. Following the transaction, the chief executive officer now directly owns 10,852,926 shares of the company’s stock, valued at $236,593,786.80. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OKLO. Parallel Advisors LLC boosted its position in Oklo by 42.4% in the 1st quarter. Parallel Advisors LLC now owns 11,862 shares of the company’s stock valued at $257,000 after buying an additional 3,530 shares during the period. Triton Wealth Management PLLC purchased a new position in Oklo during the 4th quarter worth $559,000. Windmill Hill Asset Management Ltd bought a new stake in Oklo during the 4th quarter valued at $1,476,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Oklo in the 4th quarter worth $781,000. Finally, Alpine Global Management LLC bought a new position in shares of Oklo during the 4th quarter worth $427,000. 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.