Oklo (NYSE:OKLO) Shares Gap Up – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $22.88, but opened at $24.06. Oklo shares last traded at $23.82, with a volume of 1,758,339 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Wedbush assumed coverage on shares of Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, B. Riley assumed coverage on shares of Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target on the stock.

Oklo Stock Up 0.6 %

The stock’s 50 day moving average is $22.40 and its 200 day moving average is $14.23.

Insiders Place Their Bets

In other news, 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 completion of the sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased 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 in the company, valued at $99,750. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently made changes to their positions in the company. Kozak & Associates Inc. bought a new stake in shares of Oklo during the 4th quarter worth approximately $57,000. Barclays PLC bought a new position in Oklo in the 3rd quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd bought a new position in Oklo in the 3rd quarter valued at approximately $94,000. Peapack Gladstone Financial Corp bought a new position in Oklo in the 3rd quarter valued at approximately $100,000. Finally, Sanctuary Advisors LLC bought a new position in Oklo in the 3rd quarter valued at approximately $100,000. 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.