Oklo (NYSE:OKLO) Trading Up 3.1% - Time to Buy?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) rose 3.1% on Wednesday . The company traded as high as $38.09 and last traded at $35.19. Approximately 16,457,082 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 20,026,191 shares. The stock had previously closed at $34.12.

Analysts Set New Price Targets

OKLO has been the topic of a number of recent research reports. Craig Hallum began coverage on shares of Oklo in a research report on Tuesday. They set a "buy" rating and a $44.00 price target on the stock. Wedbush boosted their price objective 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 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $32.50.

Oklo Trading Down 0.4 %

The stock has a fifty day moving average of $25.10 and a 200-day moving average of $16.51.

Insider Transactions at Oklo

In other news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 12,543,085 shares of the company's stock, valued at $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company's stock.

Institutional Investors Weigh In On Oklo

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

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.