Oklo (NYSE:OKLO) Given New $31.00 Price Target at Citigroup

Oklo (NYSE:OKLO - Free Report) had its price objective boosted by Citigroup from $10.00 to $31.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

OKLO has been the subject of a number of other research reports. Wedbush assumed coverage on shares of Oklo in a research note on Thursday, December 19th. They set an "outperform" rating and a $26.00 target price for the company. B. Riley began coverage on Oklo in a research note on Thursday, September 19th. They set a "buy" rating and a $10.00 price objective for the company.

Oklo Price Performance

Oklo stock traded down $3.22 during trading on Wednesday, reaching $26.28. The company had a trading volume of 15,761,227 shares, compared to its average volume of 18,277,848. The firm's 50-day simple moving average is $22.14 and its 200 day simple moving average is $13.78. Oklo has a 1-year low of $5.35 and a 1-year high of $31.91.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 12,543,085 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company's stock, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.80% of the company's stock.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HITE Hedge Asset Management LLC purchased a new position in Oklo in the third quarter worth approximately $19,753,000. Portland Investment Counsel Inc. acquired a new position in shares of Oklo in the 3rd quarter valued at $6,493,000. Readystate Asset Management LP purchased a new position in shares of Oklo during the 3rd quarter worth $6,193,000. Geode Capital Management LLC acquired a new stake in shares of Oklo during the 3rd quarter worth about $5,971,000. Finally, State Street Corp purchased a new stake in Oklo in the 3rd quarter valued at about $2,889,000. 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.