Oklo (NYSE:OKLO) Trading 6.2% Higher - Still a Buy?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) shot up 6.2% on Friday . The company traded as high as $43.78 and last traded at $44.51. 9,460,150 shares were traded during trading, a decline of 55% from the average session volume of 20,958,465 shares. The stock had previously closed at $41.91.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. 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. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday. They issued a "buy" rating and a $44.00 target price on the stock. Finally, Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.50.

Oklo Trading Down 0.4 %

The firm's 50 day simple moving average is $24.77 and its two-hundred day simple moving average is $16.28.

Insider Activity at Oklo

In related news, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now directly owns 5,000 shares of the company's stock, valued at $99,750. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 12,543,085 shares of the company's stock, 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. Insiders own 21.80% of the company's stock.

Institutional Trading of Oklo

Several hedge funds have recently bought and sold shares of the company. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo in the third quarter valued at approximately $6,493,000. HITE Hedge Asset Management LLC bought a new position in Oklo in the 3rd quarter worth approximately $19,753,000. Atomi Financial Group Inc. acquired a new stake in Oklo in the 4th quarter valued at approximately $19,285,000. Archford Capital Strategies LLC bought a new stake in Oklo during the 4th quarter valued at $212,000. Finally, Barclays PLC acquired a new position in Oklo during the 3rd quarter worth $58,000. 85.03% of the stock is currently owned by institutional investors.

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.