Oklo (NYSE:OKLO) Hits New 12-Month High - Still a Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report) hit a new 52-week high during trading on Saturday . The stock traded as high as $45.23 and last traded at $41.74, with a volume of 26867045 shares trading hands. The stock had previously closed at $41.91.

Analyst Upgrades and Downgrades

OKLO has been the topic of a number of research reports. Wedbush increased their price objective 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. Craig Hallum assumed coverage on Oklo in a research report on Tuesday. They set a "buy" rating and a $44.00 price target on the stock. Finally, Citigroup upped their target price on Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Oklo Price Performance

The business's 50-day simple moving average is $24.77 and its two-hundred day simple moving average is $16.28.

Insider Buying and Selling

In related news, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the director now owns 5,000 shares of the company's stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated 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 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 disclosure for this sale can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Oklo during the fourth quarter worth approximately $240,000. Truist Financial Corp acquired a new stake in shares of Oklo during the 4th quarter worth approximately $227,000. Sanctuary Advisors LLC lifted its holdings in Oklo by 115.9% in the fourth quarter. Sanctuary Advisors LLC now owns 26,590 shares of the company's stock valued at $565,000 after acquiring an additional 14,272 shares during the last quarter. KLCM Advisors Inc. purchased a new position in Oklo in the fourth quarter worth approximately $212,000. Finally, Tcfg Wealth Management LLC purchased a new position in shares of Oklo during the 4th quarter worth $450,000. Institutional investors and hedge funds own 85.03% of the company's stock.

Oklo Company Profile

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.

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