Oklo (NYSE:OKLO) Trading 10.1% Higher – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price was up 10.1% during mid-day trading on Thursday . The stock traded as high as $40.65 and last traded at $38.88. Approximately 18,126,014 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 20,711,777 shares. The stock had previously closed at $35.30.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Craig Hallum assumed coverage on Oklo in a research report on Tuesday. They issued a “buy” rating and a $44.00 target price on the stock. Wedbush increased their price objective on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Finally, Citigroup upped their price target on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Oklo Price Performance

The company has a 50-day simple moving average of $24.43 and a 200 day simple moving average of $16.10.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $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 owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of large investors have recently modified their holdings of the business. Kozak & Associates Inc. acquired a new position in Oklo during the fourth quarter worth about $57,000. Spire Wealth Management acquired a new position in shares of Oklo during the 4th quarter worth approximately $72,000. Wolff Wiese Magana LLC purchased a new stake in shares of Oklo in the fourth quarter valued at approximately $99,000. Stephens Consulting LLC acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $127,000. Finally, Barclays PLC purchased a new position in Oklo during the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.