Oklo (NYSE:OKLO) Stock Price Up 10.1% - Should You Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price traded up 10.1% on Thursday . The stock traded as high as $40.65 and last traded at $38.88. 18,126,014 shares changed hands during trading, a decline of 12% from the average session volume of 20,711,777 shares. The stock had previously closed at $35.30.

Analysts Set New Price Targets

OKLO has been the subject of several research reports. Craig Hallum assumed coverage on Oklo in a research report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective for the company. Citigroup raised their price target 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. Finally, Wedbush increased their target price on shares of Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Oklo Price Performance

The company's 50-day moving average is $25.56 and its 200-day moving average is $16.88.

Insider Transactions at Oklo

In other news, Director Richard Kinzley purchased 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 transaction, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the company's stock in a transaction dated 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 directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This represents 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 insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently bought and sold shares of OKLO. Kozak & Associates Inc. bought a new stake in shares of Oklo during the fourth quarter worth $57,000. Barclays PLC bought a new stake in Oklo during the 3rd quarter worth about $58,000. Spire Wealth Management bought a new position in shares of Oklo in the fourth quarter worth about $72,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Oklo during the third quarter worth approximately $94,000. Finally, Wolff Wiese Magana LLC bought a new stake in shares of Oklo during the fourth quarter valued at approximately $99,000. Institutional investors 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.