Oklo (NYSE:OKLO) Shares Up 3.4% – Still a Buy?

Shares of Oklo Inc. (NYSE:OKLO) were up 3.4% during mid-day trading on Monday . The company traded as high as $29.74 and last traded at $28.65. Approximately 7,133,910 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 18,412,025 shares. The stock had previously closed at $27.72.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Citigroup upped their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. B. Riley raised their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Wedbush upped their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Oklo presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Price Performance

The firm has a fifty day moving average of $35.85 and a 200 day moving average of $23.27.

Insiders Place Their Bets

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was purchased 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 $99,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction that occurred 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 directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Trading of Oklo

A number of institutional investors have recently bought and sold shares of OKLO. Portland Investment Counsel Inc. bought a new position in shares of Oklo during the 3rd quarter worth $6,493,000. HITE Hedge Asset Management LLC purchased a new position in Oklo during the 3rd quarter valued at about $19,753,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo in the 4th quarter valued at about $19,285,000. Archford Capital Strategies LLC purchased a new stake in shares of Oklo in the 4th quarter worth approximately $212,000. Finally, Barclays PLC bought a new stake in Oklo during the 3rd quarter valued at $58,000. 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.