Oklo (NYSE:OKLO) Shares Gap Up - Here's Why

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $25.47, but opened at $27.47. Oklo shares last traded at $26.08, with a volume of 4,058,541 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on OKLO shares. B. Riley boosted their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They set a "buy" rating and a $44.00 price objective on the stock. Citigroup upped their price objective on Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, January 8th. Finally, Wedbush lifted their target price on Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.50.

Oklo Stock Performance

The business has a 50 day moving average price of $35.70 and a 200 day moving average price of $22.86.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 12,543,085 shares of the company's stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley bought 5,000 shares of the business's stock in a transaction 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 in the company, valued at approximately $99,750. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company's stock.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new position in shares of Oklo during the third quarter worth $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Oklo during the 3rd quarter valued at about $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Oklo in the third quarter valued at about $104,000. Portland Investment Counsel Inc. acquired a new stake in Oklo in the third quarter worth about $6,493,000. Finally, Atom Investors LP purchased a new stake in shares of Oklo during the third quarter worth about $657,000. Hedge funds and other institutional investors 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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