Oklo (NYSE:OKLO) Trading Up 1.7% – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s share price was up 1.7% during trading on Tuesday . The stock traded as high as $24.30 and last traded at $23.28. Approximately 4,291,295 shares traded hands during trading, a decline of 70% from the average daily volume of 14,308,809 shares. The stock had previously closed at $22.88.

Analyst Upgrades and Downgrades

OKLO has been the topic of a number of analyst reports. B. Riley initiated coverage on shares of Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective on the stock. Citigroup raised their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Finally, Wedbush initiated coverage on Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price on the stock.

Oklo Price Performance

The stock’s fifty day simple moving average is $22.40 and its 200-day simple moving average is $14.23.

Insider Activity

In other news, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 completion of the sale, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Hedge funds have recently made changes to their positions in the business. Kozak & Associates Inc. purchased a new position in Oklo during the fourth quarter worth approximately $57,000. Wolff Wiese Magana LLC acquired a new position in Oklo in the fourth quarter valued at $99,000. Barclays PLC purchased a new stake in Oklo during the third quarter valued at about $58,000. Y Intercept Hong Kong Ltd acquired a new stake in Oklo during the third quarter worth about $94,000. Finally, Peapack Gladstone Financial Corp purchased a new position in shares of Oklo in the 3rd quarter worth about $100,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.