Oklo (NYSE:OKLO) Reaches New 1-Year High – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s share price hit a new 52-week high on Friday . The stock traded as high as $52.99 and last traded at $47.75, with a volume of 19851250 shares trading hands. The stock had previously closed at $50.50.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OKLO. Citigroup lifted their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Wedbush boosted their target price on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Craig Hallum assumed coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Oklo Price Performance

The firm has a fifty day moving average of $26.63 and a 200-day moving average of $17.39.

Insider Buying and Selling at Oklo

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

Institutional Investors Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the company. Portland Investment Counsel Inc. bought a new stake in shares of Oklo in the 3rd quarter worth $6,493,000. HITE Hedge Asset Management LLC acquired a new position in Oklo during the third quarter worth about $19,753,000. Atomi Financial Group Inc. acquired a new position in Oklo during the fourth quarter worth about $19,285,000. Archford Capital Strategies LLC bought a new stake in Oklo in the fourth quarter worth about $212,000. Finally, Barclays PLC acquired a new stake in Oklo in the 3rd quarter valued at about $58,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.