Oklo (NYSE:OKLO) Shares Gap Up – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares gapped up before the market opened on Tuesday . The stock had previously closed at $31.11, but opened at $33.05. Oklo shares last traded at $32.04, with a volume of 6,203,101 shares changing hands.

Analysts Set New Price Targets

OKLO has been the topic of several analyst reports. Citigroup upped their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Wedbush upped their price target on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Craig Hallum started coverage on shares of Oklo in a research note on Tuesday. They issued a “buy” rating and a $44.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Oklo Price Performance

The business has a fifty day simple moving average of $24.43 and a two-hundred day simple moving average of $16.10.

Insider Transactions at Oklo

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

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently modified their holdings of the company. Kozak & Associates Inc. purchased a new stake in Oklo in the 4th quarter worth $57,000. Barclays PLC purchased a new stake in shares of Oklo during the third quarter worth about $58,000. Spire Wealth Management bought a new stake in Oklo during the 4th quarter valued at approximately $72,000. Y Intercept Hong Kong Ltd purchased a new position in Oklo in the 3rd quarter worth approximately $94,000. Finally, Wolff Wiese Magana LLC bought a new position in Oklo in the 4th quarter worth approximately $99,000. 85.03% of the stock is currently 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.