Oklo (NYSE:OKLO) Trading Up 1.7% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price shot up 1.7% during mid-day trading on Tuesday . The company traded as high as $31.91 and last traded at $30.52. 8,368,007 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 16,699,977 shares. The stock had previously closed at $30.00.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. B. Riley assumed coverage on Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company. Wedbush assumed coverage on shares of Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target for the company. Finally, Citigroup reduced their price objective on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th.

Oklo Stock Performance

The company has a 50-day moving average of $22.05 and a 200-day moving average of $13.63.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction on 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 acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. HITE Hedge Asset Management LLC acquired a new position in Oklo in the 3rd quarter worth approximately $19,753,000. Portland Investment Counsel Inc. acquired a new stake in Oklo during the 3rd quarter worth about $6,493,000. Readystate Asset Management LP purchased a new position in shares of Oklo during the 3rd quarter valued at about $6,193,000. Geode Capital Management LLC acquired a new position in shares of Oklo in the 3rd quarter valued at about $5,971,000. Finally, State Street Corp purchased a new stake in shares of Oklo in the third quarter worth about $2,889,000. 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.