Oklo (NYSE:OKLO) Shares Gap Up – Still a Buy?

Oklo Inc. (NYSE:OKLO) shares gapped up before the market opened on Wednesday . The stock had previously closed at $25.47, but opened at $27.47. Oklo shares last traded at $26.08, with a volume of 4,058,541 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wedbush raised their price objective on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Citigroup lifted their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. B. Riley raised their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Craig Hallum assumed coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Price Performance

The stock has a fifty day simple moving average of $35.70 and a 200-day simple moving average of $22.86.

Insider Buying and Selling

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the business’s 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 transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Trading of Oklo

A number of institutional investors have recently made changes to their positions in the company. Portland Investment Counsel Inc. purchased a new position in shares of Oklo in the third quarter worth about $6,493,000. HITE Hedge Asset Management LLC purchased a new position in Oklo in the 3rd quarter worth approximately $19,753,000. Atomi Financial Group Inc. acquired a new position in shares of Oklo during the 4th quarter worth approximately $19,285,000. Archford Capital Strategies LLC acquired a new position in shares of Oklo during the 4th quarter worth approximately $212,000. Finally, Barclays PLC purchased a new stake in shares of Oklo in the third quarter valued at approximately $58,000. 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.