Oklo (NYSE:OKLO) Reaches New 12-Month High - Should You Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $32.77 and last traded at $32.65, with a volume of 1276037 shares changing hands. The stock had previously closed at $31.25.

Analyst Upgrades and Downgrades

OKLO has been the topic of several recent research reports. Citigroup raised their price objective on Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. Wedbush raised 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.

Oklo Stock Up 8.0 %

The stock has a fifty day moving average of $23.21 and a 200 day moving average of $15.27.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the transaction, the chief executive officer now directly owns 12,543,085 shares of the company's stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price 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 $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company's stock.

Institutional Trading of Oklo

A number of institutional investors have recently bought and sold shares of OKLO. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo in the 3rd quarter worth $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. Portland Investment Counsel Inc. bought a new position in shares of Oklo during the third quarter valued at approximately $6,493,000. Readystate Asset Management LP bought a new position in Oklo in the third quarter worth approximately $6,193,000. Finally, Geode Capital Management LLC purchased a new stake in Oklo during the third quarter worth $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.