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

Oklo Inc. (NYSE:OKLO)’s stock price gapped up before the market opened 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 changing hands.

Specifically, Director John M. Jansen acquired 6,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was purchased at an average cost of $24.57 per share, with a total value of $147,420.00. Following the completion of the purchase, the director now directly owns 6,000 shares in the company, valued at $147,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

OKLO has been the subject of several recent research reports. Craig Hallum assumed coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target for the company. Citigroup cut their price objective on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Wedbush reiterated an “outperform” rating and issued a $45.00 target price on shares of Oklo in a report on Tuesday, March 25th. Finally, B. Riley boosted their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Oklo Stock Up 4.2 %

The firm has a market cap of $3.13 billion, a PE ratio of -2.23 and a beta of -0.28. The company has a 50-day simple moving average of $35.83 and a two-hundred day simple moving average of $24.97.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OKLO. TD Waterhouse Canada Inc. purchased a new position in Oklo in the fourth quarter valued at approximately $27,000. CoreCap Advisors LLC bought a new stake in shares of Oklo in the fourth quarter valued at $32,000. Sandy Spring Bank bought a new stake in shares of Oklo in the fourth quarter valued at $32,000. Covestor Ltd purchased a new position in shares of Oklo during the 4th quarter valued at $34,000. Finally, Anfield Capital Management LLC bought a new position in shares of Oklo during the 4th quarter worth $43,000. 85.03% of the stock is 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.