Oklo (NYSE:OKLO) Shares Gap Up - Time to Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $31.11, but opened at $33.05. Oklo shares last traded at $32.04, with a volume of 6,203,101 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on OKLO shares. Wedbush boosted 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 increased their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. Finally, Craig Hallum began coverage on shares of Oklo in a report on Tuesday. 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

Oklo Trading Down 0.4 %

The business's 50-day simple moving average is $24.77 and its 200-day simple moving average is $16.28.

Insider Activity

In related news, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company's stock, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the firm's 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 sale, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Large investors have recently bought and sold shares of the company. HITE Hedge Asset Management LLC bought a new position in Oklo in the third quarter valued at approximately $19,753,000. Van ECK Associates Corp acquired a new stake in shares of Oklo in the 4th quarter valued at approximately $38,661,000. Atomi Financial Group Inc. bought a new position in shares of Oklo in the fourth quarter valued at $19,285,000. Portland Investment Counsel Inc. acquired a new position in Oklo during the third quarter worth $6,493,000. Finally, Readystate Asset Management LP acquired a new position in Oklo during the third quarter worth $6,193,000. 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.