Oklo (NYSE:OKLO) Shares Up 9.4% Following Insider Buying Activity

Oklo Inc. (NYSE:OKLO)’s stock price was up 9.4% during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $23.52 and last traded at $23.66. Approximately 5,459,557 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 11,671,500 shares. The stock had previously closed at $21.63.

Specifically, Director John M. Jansen purchased 6,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were acquired at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at $147,420. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OKLO. Wedbush reiterated an “outperform” rating and set a $45.00 price objective on shares of Oklo in a research note on Tuesday, March 25th. Craig Hallum initiated coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. B. Riley increased 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. Finally, Citigroup lowered their target price on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.25.

Oklo Stock Up 4.2 %

The business has a 50 day moving average price of $35.83 and a 200 day moving average price of $24.97. The stock has a market cap of $3.13 billion, a P/E ratio of -2.23 and a beta of -0.28.

Oklo (NYSE:OKLO) last issued its 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, research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. bought a new position in shares of Oklo during the 4th quarter worth approximately $27,000. CoreCap Advisors LLC acquired a new position in shares of Oklo during the fourth quarter worth $32,000. Sandy Spring Bank purchased a new stake in shares of Oklo during the 4th quarter valued at $32,000. Covestor Ltd acquired a new stake in shares of Oklo in the 4th quarter worth $34,000. Finally, Anfield Capital Management LLC purchased a new position in Oklo during the 4th quarter worth $43,000. 85.03% of the stock is 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.