Oklo (NYSE:OKLO) Shares Gap Up – Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO) gapped up before the market opened on Tuesday . The stock had previously closed at $26.05, but opened at $27.62. Oklo shares last traded at $27.24, with a volume of 4,678,577 shares trading hands.

Analyst Ratings Changes

Several brokerages recently issued reports on OKLO. Citigroup increased their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Wedbush initiated coverage on shares of Oklo in a research report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target for the company.

Oklo Stock Performance

The firm’s fifty day moving average price is $22.91 and its 200 day moving average price is $15.11.

Insider Buying and Selling at Oklo

In related 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 sale, 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 SEC, which is accessible through this link. Also, Director Richard Kinzley bought 5,000 shares of the stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. The trade was 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 Trading of Oklo

Several large investors have recently made changes to their positions in OKLO. HITE Hedge Asset Management LLC bought a new position in shares of Oklo in the 3rd quarter valued at approximately $19,753,000. Atomi Financial Group Inc. bought a new position in shares of Oklo in the fourth quarter valued at approximately $19,285,000. Portland Investment Counsel Inc. bought a new position in shares of Oklo in the third quarter valued at approximately $6,493,000. Readystate Asset Management LP acquired a new stake in shares of Oklo in the third quarter worth $6,193,000. Finally, Geode Capital Management LLC bought a new stake in shares of Oklo during the 3rd quarter worth $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.