Oklo (NYSE:OKLO) Trading 2.5% Higher – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares traded up 2.5% on Wednesday . The company traded as high as $27.18 and last traded at $26.68. 3,125,462 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 11,554,693 shares. The stock had previously closed at $26.02.

Wall Street Analyst Weigh In

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

Oklo Stock Performance

The firm has a 50-day moving average of $35.74 and a two-hundred day moving average of $23.56.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Kinzley bought 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. bought a new position in Oklo during the 4th quarter valued at about $27,000. Sandy Spring Bank acquired a new stake in shares of Oklo during the fourth quarter worth approximately $32,000. CoreCap Advisors LLC acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $32,000. Covestor Ltd acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $34,000. Finally, Anfield Capital Management LLC acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $43,000. Institutional investors 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.