Oklo (NYSE:OKLO) Trading 4.5% Higher - Still a Buy?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) were up 4.5% during trading on Friday . The company traded as high as $34.66 and last traded at $33.86. Approximately 7,034,314 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 20,047,918 shares. The stock had previously closed at $32.39.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on OKLO shares. Citigroup raised their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, January 8th. B. Riley raised their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Craig Hallum started coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective for the company. Finally, Wedbush raised their price objective 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $44.50.

Oklo Stock Performance

The firm's 50-day simple moving average is $35.08 and its 200-day simple moving average is $21.86.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of the business's stock in a transaction that occurred on 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 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. The trade was a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by company insiders.

Remove Ads

Institutional Investors Weigh In On Oklo

Hedge funds have recently made changes to their positions in the business. TD Waterhouse Canada Inc. bought a new stake in shares of Oklo in the 4th quarter worth approximately $27,000. CoreCap Advisors LLC bought a new stake in Oklo during the 4th quarter valued at $32,000. Sandy Spring Bank bought a new stake in Oklo during the 4th quarter valued at $32,000. Covestor Ltd bought a new stake in Oklo during the 4th quarter valued at $34,000. Finally, Anfield Capital Management LLC bought a new stake in Oklo during the 4th quarter valued at $43,000. 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.