Oklo (NYSE:OKLO) Shares Gap Up – Time to Buy?

Oklo Inc. (NYSE:OKLO) shares gapped up before the market opened on Tuesday . The stock had previously closed at $31.11, but opened at $33.05. Oklo shares last traded at $32.04, with a volume of 6,203,101 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup upped their price target on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Craig Hallum assumed coverage on Oklo in a research report on Tuesday. They set a “buy” rating and a $44.00 price target for the company. Finally, Wedbush upped their price target on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Oklo Stock Up 0.8 %

The stock has a 50 day simple moving average of $23.90 and a 200-day simple moving average of $15.79.

Insider Buying and Selling

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

Institutional Trading of Oklo

Institutional investors and hedge funds have recently modified their holdings of the stock. HITE Hedge Asset Management LLC bought a new position in Oklo in the third quarter worth approximately $19,753,000. Atomi Financial Group Inc. bought a new position in Oklo in the fourth quarter worth approximately $19,285,000. Portland Investment Counsel Inc. bought a new position in Oklo in the third quarter worth approximately $6,493,000. Readystate Asset Management LP bought a new position in Oklo in the third quarter worth approximately $6,193,000. Finally, Geode Capital Management LLC bought a new position in Oklo in the third quarter worth approximately $5,971,000. 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.