Oklo (NYSE:OKLO) Shares Gap Up – Time to Buy?

Oklo Inc. (NYSE:OKLOGet Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $31.11, but opened at $33.05. Oklo shares last traded at $32.04, with a volume of 6,203,101 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OKLO. Citigroup upped their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Craig Hallum assumed coverage on Oklo in a report on Tuesday. They set a “buy” rating and a $44.00 target price on the stock. Finally, Wedbush boosted their target price on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and an average price target of $32.50.

View Our Latest Report on OKLO

Oklo Price Performance

The firm has a 50 day moving average price of $23.90 and a two-hundred day moving average price of $15.79.

Insider Buying and Selling at Oklo

In related news, Director Richard Kinzley bought 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were bought 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 directly owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’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 transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. This represents a 1.81 % decrease in their position. 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 made changes to their positions in the company. Kozak & Associates Inc. purchased a new position in shares of Oklo in the fourth quarter valued at $57,000. Barclays PLC purchased a new position in shares of Oklo in the third quarter valued at $58,000. Spire Wealth Management purchased a new position in shares of Oklo in the fourth quarter valued at $72,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Oklo in the third quarter valued at $94,000. Finally, Wolff Wiese Magana LLC purchased a new position in Oklo during the fourth quarter worth about $99,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Company Profile

(Get Free Report)

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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