Oklo (NYSE:OKLO) Trading Up 11.1% - What's Next?

Oklo Inc. (NYSE:OKLO - Get Free Report) was up 11.1% during mid-day trading on Wednesday . The company traded as high as $36.48 and last traded at $35.62. Approximately 10,175,237 shares were traded during trading, a decline of 50% from the average daily volume of 20,237,750 shares. The stock had previously closed at $32.07.

Analysts Set New Price Targets

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

Oklo Stock Up 3.1 %

The company's fifty day moving average price is $35.08 and its two-hundred day moving average price is $21.76.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Kinzley bought 5,000 shares of Oklo 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 acquisition, 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. 21.80% of the stock is currently owned by corporate insiders.

Remove Ads

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OKLO. DRW Securities LLC acquired a new position in Oklo during the third quarter worth $404,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Oklo during the third quarter worth $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Oklo during the third quarter worth $104,000. Portland Investment Counsel Inc. bought a new stake in Oklo during the third quarter worth $6,493,000. Finally, Atom Investors LP bought a new stake in Oklo during the third quarter worth $657,000. Institutional investors and hedge funds own 85.03% of the company's stock.

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.