Oklo (NYSE:OKLO) Trading 7.1% Higher – Still a Buy?

Oklo Inc. (NYSE:OKLO) shares were up 7.1% during mid-day trading on Wednesday . The stock traded as high as $52.45 and last traded at $50.20. Approximately 11,028,597 shares changed hands during trading, a decline of 49% from the average daily volume of 21,732,289 shares. The stock had previously closed at $46.89.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup raised their target price 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. Wedbush boosted 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. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Finally, B. Riley raised their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Stock Up 15.7 %

The company has a 50 day moving average of $27.15 and a 200 day moving average of $17.60.

Insider Buying and Selling at Oklo

In other news, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing 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 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 transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This 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 corporate insiders.

Institutional Trading of Oklo

Several institutional investors have recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo in the 3rd quarter valued at about $19,753,000. Van ECK Associates Corp bought a new position in Oklo in the fourth quarter worth about $38,661,000. Atomi Financial Group Inc. acquired a new position in Oklo in the fourth quarter valued at approximately $19,285,000. TimesSquare Capital Management LLC bought a new position in shares of Oklo during the fourth quarter valued at approximately $17,104,000. Finally, Portland Investment Counsel Inc. acquired a new stake in shares of Oklo during the 3rd quarter worth approximately $6,493,000. Institutional investors 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.