Oklo (NYSE:OKLO) Shares Gap Up – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $26.02, but opened at $26.94. Oklo shares last traded at $26.41, with a volume of 1,063,614 shares changing hands.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of recent analyst reports. B. Riley raised their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Wedbush raised their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Citigroup raised their target price on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.50.

Oklo Stock Down 0.7 %

The firm’s 50-day moving average is $35.81 and its 200 day moving average is $23.62.

Insider Buying and Selling

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Triton Wealth Management PLLC purchased a new position in Oklo in the 4th quarter valued at about $559,000. Windmill Hill Asset Management Ltd purchased a new position in Oklo in the 4th quarter valued at about $1,476,000. Polar Asset Management Partners Inc. purchased a new position in Oklo in the 4th quarter valued at about $781,000. Alpine Global Management LLC purchased a new position in Oklo in the 4th quarter valued at about $427,000. Finally, Value Aligned Research Advisors LLC purchased a new position in Oklo in the 4th quarter valued at about $1,209,000. 85.03% of the stock is currently owned by hedge funds and other 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.