Oklo (NYSE:OKLO) Trading 12.9% Higher – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price shot up 12.9% during trading on Monday . The company traded as high as $30.95 and last traded at $30.68. 9,407,832 shares changed hands during trading, a decline of 19% from the average session volume of 11,566,498 shares. The stock had previously closed at $27.16.

Analysts Set New Price Targets

OKLO has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a research report on Tuesday. Citigroup reduced their price target on Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday. Craig Hallum assumed coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, B. Riley lifted their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and an average price target of $44.25.

Oklo Trading Down 6.9 %

The company has a 50-day simple moving average of $36.13 and a two-hundred day simple moving average of $24.36.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC purchased a new position in Oklo during the 3rd quarter valued at about $19,753,000. Vanguard Group Inc. lifted its holdings in shares of Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Oklo in the 4th quarter worth approximately $38,661,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo in the 4th quarter worth approximately $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Oklo in the 4th quarter worth approximately $17,104,000. 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.