Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price shot up 10.1% on Thursday . The stock traded as high as $40.65 and last traded at $38.88. 18,126,014 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 20,711,777 shares. The stock had previously closed at $35.30.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on OKLO. Wedbush increased their price target on shares of Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Citigroup increased their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a report on Wednesday, January 8th. Finally, Craig Hallum initiated 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Oklo currently has a consensus rating of "Moderate Buy" and an average price target of $32.50.
View Our Latest Research Report on OKLO
Oklo Trading Down 0.4 %
The business's fifty day moving average is $25.10 and its 200 day moving average is $16.57.
Insider Transactions at Oklo
In other news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction dated Friday, December 20th. The shares were 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 directly owns 12,543,085 shares of the company's stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley acquired 5,000 shares of the business's stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company's stock, valued at approximately $99,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company's stock.
Hedge Funds Weigh In On Oklo
Several institutional investors and hedge funds have recently made changes to their positions in the company. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo during the 3rd quarter worth approximately $19,753,000. Van ECK Associates Corp acquired a new stake in Oklo during the fourth quarter worth about $38,661,000. Atomi Financial Group Inc. bought a new position in Oklo in the 4th quarter valued at about $19,285,000. Portland Investment Counsel Inc. acquired a new position in shares of Oklo in the 3rd quarter valued at approximately $6,493,000. Finally, Readystate Asset Management LP bought a new stake in shares of Oklo during the 3rd quarter worth approximately $6,193,000. Institutional investors and hedge funds own 85.03% of the company's stock.
Oklo Company Profile
(
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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.
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