Oklo (NYSE:OKLO) Trading Up 3.1% – Still a Buy?

Oklo Inc. (NYSE:OKLO) shares rose 3.1% on Wednesday . The stock traded as high as $38.09 and last traded at $35.19. Approximately 16,457,082 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 20,026,191 shares. The stock had previously closed at $34.12.

Analyst Ratings Changes

Several research firms have recently issued reports on OKLO. Wedbush boosted their price target on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Finally, Craig Hallum initiated coverage on Oklo in a report on Tuesday. They issued a “buy” rating and a $44.00 price target for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Oklo Stock Performance

The stock’s fifty day moving average is $24.14 and its two-hundred day moving average is $15.97.

Insider Activity

In other news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated 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 sale, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard Kinzley acquired 5,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently bought and sold shares of the stock. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo during the 3rd quarter valued at $19,753,000. Atomi Financial Group Inc. bought a new position in Oklo in the fourth quarter valued at $19,285,000. Portland Investment Counsel Inc. purchased a new stake in Oklo during the third quarter valued at about $6,493,000. Readystate Asset Management LP purchased a new position in shares of Oklo during the third quarter worth approximately $6,193,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Oklo in the 3rd quarter valued at $5,971,000. 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.