Oklo (NYSE:OKLO) Shares Up 3.4% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price traded up 3.4% during trading on Monday . The stock traded as high as $29.74 and last traded at $28.65. 7,133,910 shares were traded during mid-day trading, a decline of 61% from the average session volume of 18,412,025 shares. The stock had previously closed at $27.72.

Wall Street Analyst Weigh In

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

Oklo Stock Down 7.1 %

The stock has a fifty day moving average of $35.74 and a 200-day moving average of $23.56.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the business’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 value of $4,982,596.09. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently bought and sold shares of the business. Portland Investment Counsel Inc. purchased a new position in Oklo during the 3rd quarter worth $6,493,000. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo during the third quarter worth about $19,753,000. Atomi Financial Group Inc. acquired a new position in Oklo in the 4th quarter valued at about $19,285,000. Archford Capital Strategies LLC purchased a new stake in Oklo during the 4th quarter valued at approximately $212,000. Finally, Barclays PLC acquired a new stake in Oklo during the 3rd quarter worth approximately $58,000. Hedge funds and other 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.