Oklo (NYSE:OKLO) Shares Gap Up After Insider Buying Activity

Oklo Inc. (NYSE:OKLO)’s stock price gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $21.63, but opened at $22.88. Oklo shares last traded at $22.49, with a volume of 2,817,561 shares.

Specifically, Director John M. Jansen acquired 6,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were bought at an average price of $24.57 per share, with a total value of $147,420.00. Following the acquisition, the director now owns 6,000 shares of the company’s stock, valued at $147,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup cut their target price on Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Wedbush restated an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a research note on Tuesday, March 25th. B. Riley lifted their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, 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 for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and an average target price of $44.25.

Oklo Stock Performance

The company has a 50-day simple moving average of $36.01 and a 200-day simple moving average of $24.86. The stock has a market cap of $3.17 billion, a P/E ratio of -2.24 and a beta of -0.28.

Oklo (NYSE:OKLO) last posted its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). As a group, sell-side analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oklo

Large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. bought a new position in shares of Oklo during the 4th quarter valued at about $27,000. CoreCap Advisors LLC acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $32,000. Sandy Spring Bank bought a new stake in Oklo during the 4th quarter worth about $32,000. Covestor Ltd acquired a new position in shares of Oklo during the 4th quarter worth about $34,000. Finally, Anfield Capital Management LLC bought a new position in shares of Oklo in the 4th quarter valued at about $43,000. 85.03% of the stock is currently owned by institutional investors.

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.