Oklo (NYSE:OKLO) Reaches New 1-Year High – Here’s Why

Oklo Inc. (NYSE:OKLO) reached a new 52-week high on Saturday . The stock traded as high as $45.23 and last traded at $41.74, with a volume of 26867045 shares changing hands. The stock had previously closed at $41.91.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OKLO. Wedbush lifted 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. Craig Hallum started coverage on Oklo in a report on Tuesday. They issued a “buy” rating and a $44.00 target price for the company. Finally, Citigroup boosted their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Oklo Price Performance

The stock’s 50-day simple moving average is $24.77 and its 200 day simple moving average is $16.28.

Insider Activity at Oklo

In related news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction dated 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 acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction on Friday, December 20th. The shares were 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. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Large investors have recently bought and sold shares of the stock. Kozak & Associates Inc. acquired a new stake in shares of Oklo during the fourth quarter worth about $57,000. Spire Wealth Management acquired a new position in Oklo during the fourth quarter worth approximately $72,000. Wolff Wiese Magana LLC purchased a new stake in Oklo in the fourth quarter valued at approximately $99,000. Stephens Consulting LLC acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $127,000. Finally, Barclays PLC purchased a new position in shares of Oklo during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.