Oklo (NYSE:OKLO) Shares Up 10.1% – Time to Buy?

Shares of Oklo Inc. (NYSE:OKLO) were up 10.1% during trading on Thursday . The company traded as high as $40.65 and last traded at $38.88. Approximately 18,126,014 shares changed hands during trading, a decline of 12% from the average daily volume of 20,711,777 shares. The stock had previously closed at $35.30.

Wall Street Analyst Weigh In

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

Oklo Trading Up 18.9 %

The stock’s 50-day moving average is $24.43 and its two-hundred day moving average is $16.10.

Insider Transactions at Oklo

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently bought and sold shares of the stock. Portland Investment Counsel Inc. acquired a new stake in Oklo in the third quarter valued at $6,493,000. HITE Hedge Asset Management LLC purchased a new stake in Oklo during the third quarter worth approximately $19,753,000. Atomi Financial Group Inc. acquired a new position in Oklo in the fourth quarter valued at approximately $19,285,000. Archford Capital Strategies LLC purchased a new position in Oklo in the fourth quarter valued at approximately $212,000. Finally, Barclays PLC acquired a new stake in Oklo during the third quarter worth approximately $58,000. 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.