Oklo (NYSE:OKLO) Trading 4.5% Higher – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price shot up 4.5% during trading on Friday . The stock traded as high as $34.66 and last traded at $33.86. 7,034,314 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 20,047,918 shares. The stock had previously closed at $32.39.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OKLO. B. Riley upped their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Citigroup upped their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Craig Hallum assumed coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Wedbush boosted their price target on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Oklo currently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Performance

The firm’s 50 day moving average is $35.08 and its 200 day moving average is $21.76.

Insider Transactions at Oklo

In related news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC acquired a new stake in Oklo during the 3rd quarter worth about $19,753,000. Vanguard Group Inc. raised its stake in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Oklo during the fourth quarter worth about $38,661,000. Atomi Financial Group Inc. purchased a new stake in Oklo in the fourth quarter valued at approximately $19,285,000. Finally, TimesSquare Capital Management LLC acquired a new position in Oklo in the 4th quarter worth approximately $17,104,000. 85.03% of the stock is currently 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.