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

Oklo Inc. (NYSE:OKLO)’s share price gapped up before the market opened on Monday . The stock had previously closed at $22.50, but opened at $23.93. Oklo shares last traded at $22.44, with a volume of 2,765,212 shares trading hands.

Wall Street Analysts Forecast Growth

OKLO has been the subject of a number of recent research reports. B. Riley lifted their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. BTIG Research started coverage on Oklo in a research report on Friday, April 11th. They issued a “neutral” rating for the company. Citigroup lowered their price objective on Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $45.00 price target on shares of Oklo in a report on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Stock Up 1.9 %

The company’s 50 day simple moving average is $31.35 and its 200-day simple moving average is $25.94. The firm has a market cap of $3.19 billion, a P/E ratio of -2.27 and a beta of -0.01.

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

Insider Activity

In related news, Director John M. Jansen acquired 6,000 shares of the stock in a transaction on Thursday, March 27th. The stock was bought at an average cost of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 41,000 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the transaction, the chief executive officer now owns 10,852,926 shares in the company, valued at $236,593,786.80. This represents 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

Institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. purchased a new position in shares of Oklo during the fourth quarter valued at $27,000. CoreCap Advisors LLC bought a new position in Oklo during the 4th quarter worth about $32,000. Sandy Spring Bank purchased a new position in Oklo during the 4th quarter valued at about $32,000. Covestor Ltd bought a new stake in shares of Oklo in the 4th quarter valued at about $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo in the 4th quarter valued at about $43,000. 85.03% of the stock is currently owned by hedge funds and other 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.