Oklo (NYSE:OKLO) Shares Gap Up - Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $32.07, but opened at $34.50. Oklo shares last traded at $35.65, with a volume of 7,630,331 shares traded.

Analyst Upgrades and Downgrades

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

Oklo Price Performance

The company has a fifty day simple moving average of $35.08 and a two-hundred day simple moving average of $21.76.

Insider Buying and Selling at Oklo

In related 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 price of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the sale, 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 disclosure for this sale can be found here. 21.80% of the stock is currently owned by insiders.

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Institutional Investors Weigh In On Oklo

Several hedge funds have recently modified their holdings of OKLO. DRW Securities LLC acquired a new position in shares of Oklo in the third quarter valued at approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Oklo in the 3rd quarter worth approximately $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Oklo in the 3rd quarter valued at $104,000. Portland Investment Counsel Inc. purchased a new position in shares of Oklo during the 3rd quarter worth $6,493,000. Finally, Atom Investors LP acquired a new stake in shares of Oklo during the third quarter worth $657,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.