Oklo (NYSE:OKLO) Sees Large Volume Increase – Should You Buy?

Oklo Inc. (NYSE:OKLO) saw unusually-strong trading volume on Tuesday . Approximately 3,979,311 shares changed hands during mid-day trading, a decline of 37% from the previous session’s volume of 6,306,032 shares.The stock last traded at $22.05 and had previously closed at $23.65.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a research note on Friday, September 6th. Wedbush initiated coverage on shares of Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target on the stock. B. Riley assumed coverage on shares of Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Citigroup dropped their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th.

Oklo Stock Performance

The business’s 50-day moving average price is $21.64 and its two-hundred day moving average price is $13.20.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Kinzley bought 5,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by company insiders.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently modified their holdings of the business. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo in the 3rd quarter valued at about $19,753,000. Portland Investment Counsel Inc. acquired a new stake in Oklo during the third quarter worth about $6,493,000. Readystate Asset Management LP bought a new position in Oklo in the third quarter worth about $6,193,000. Geode Capital Management LLC acquired a new position in Oklo in the third quarter valued at approximately $5,971,000. Finally, State Street Corp bought a new position in shares of Oklo during the third quarter valued at approximately $2,889,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.