Oklo (NYSE:OKLO) Trading 6.1% Higher – Still a Buy?

Oklo Inc. (NYSE:OKLO) shares rose 6.1% on Monday . The company traded as high as $44.38 and last traded at $44.13. Approximately 13,409,819 shares traded hands during trading, a decline of 37% from the average daily volume of 21,390,307 shares. The stock had previously closed at $41.61.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OKLO shares. Citigroup lifted their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Craig Hallum started coverage on Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Wedbush increased their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.50.

Oklo Stock Up 7.8 %

The company’s 50 day moving average is $26.06 and its 200 day moving average is $17.15.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anfield Capital Management LLC acquired a new position in shares of Oklo during the 4th quarter valued at $43,000. Kozak & Associates Inc. acquired a new stake in shares of Oklo during the fourth quarter worth approximately $57,000. Spire Wealth Management acquired a new position in shares of Oklo in the fourth quarter worth $72,000. Wolff Wiese Magana LLC bought a new stake in shares of Oklo in the 4th quarter valued at approximately $99,000. Finally, Stephens Consulting LLC bought a new position in Oklo during the fourth quarter valued at about $127,000. Institutional investors and hedge funds 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.