Oklo (NYSE:OKLO) Trading 11.1% Higher – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price rose 11.1% during mid-day trading on Wednesday . The stock traded as high as $36.48 and last traded at $35.62. Approximately 10,175,237 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 20,237,750 shares. The stock had previously closed at $32.07.

Analyst Ratings Changes

OKLO has been the subject of several recent analyst reports. Wedbush raised their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. B. Riley boosted their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Citigroup raised 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Price Performance

The business’s 50 day simple moving average is $34.28 and its 200 day simple moving average is $21.31.

Insider Buying and Selling at Oklo

In other Oklo 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 transaction of $4,982,596.09. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently bought and sold shares of the company. Portland Investment Counsel Inc. bought a new position in shares of Oklo in the third quarter worth $6,493,000. HITE Hedge Asset Management LLC purchased a new position in Oklo during the third quarter valued at approximately $19,753,000. Atomi Financial Group Inc. purchased a new position in Oklo during the fourth quarter valued at approximately $19,285,000. Archford Capital Strategies LLC purchased a new stake in shares of Oklo in the fourth quarter worth $212,000. Finally, Barclays PLC bought a new stake in shares of Oklo during the 3rd quarter valued at about $58,000. Hedge funds and other 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.