Oklo (NYSE:OKLO) Trading 14% Higher – Time to Buy?

Oklo Inc. (NYSE:OKLO) shot up 14% during trading on Thursday . The company traded as high as $38.67 and last traded at $38.95. 12,030,791 shares changed hands during trading, a decline of 20% from the average session volume of 15,107,454 shares. The stock had previously closed at $34.17.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wedbush lifted their price objective on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup lifted their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th.

Oklo Stock Performance

The business has a 50 day moving average of $23.69 and a 200-day moving average of $15.51.

Insider Activity

In related news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Kinzley bought 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently made changes to their positions in the stock. Kozak & Associates Inc. bought a new stake in Oklo in the 4th quarter worth approximately $57,000. Barclays PLC bought a new stake in shares of Oklo in the 3rd quarter worth approximately $58,000. Spire Wealth Management purchased a new stake in shares of Oklo in the 4th quarter valued at $72,000. Y Intercept Hong Kong Ltd bought a new position in shares of Oklo during the 3rd quarter valued at $94,000. Finally, Wolff Wiese Magana LLC purchased a new position in Oklo in the 4th quarter worth $99,000. Institutional investors 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.