Oklo (NYSE:OKLO) Stock Price Up 17.2% – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s share price traded up 17.2% during trading on Friday . The company traded as high as $25.75 and last traded at $25.60. 9,008,050 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 8,094,016 shares. The stock had previously closed at $21.85.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKLO. Wedbush began coverage on Oklo in a report on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price for the company. B. Riley assumed coverage on shares of Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective for the company. Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a report on Friday, September 6th. Finally, Citigroup lowered their price target on Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th.

Oklo Trading Up 24.5 %

The business has a 50 day simple moving average of $21.78 and a two-hundred day simple moving average of $13.31.

Insider Activity at Oklo

In other Oklo news, Director Richard Kinzley bought 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred 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 transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC bought a new stake in Oklo during the 3rd quarter valued at $58,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Oklo during the 3rd quarter worth about $94,000. Peapack Gladstone Financial Corp acquired a new stake in Oklo in the third quarter worth approximately $100,000. Sanctuary Advisors LLC acquired a new position in shares of Oklo during the 3rd quarter valued at $100,000. Finally, MML Investors Services LLC bought a new stake in shares of Oklo in the 3rd quarter worth $104,000. 85.03% of the stock is currently owned by institutional investors.

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.