Oklo (NYSE:OKLO) Hits New 12-Month High – Still a Buy?

Oklo Inc. (NYSE:OKLO) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $32.77 and last traded at $32.65, with a volume of 1276037 shares trading hands. The stock had previously closed at $31.25.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OKLO shares. Citigroup boosted their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Wedbush started coverage on Oklo in a report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price objective for the company.

Oklo Trading Up 5.3 %

The business has a 50-day moving average of $22.69 and a 200-day moving average of $14.98.

Insider Activity

In related news, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $99,750. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction 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 position. The disclosure for this sale can be found here. 21.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the stock. HITE Hedge Asset Management LLC bought a new position in shares of Oklo in the third quarter valued at about $19,753,000. Atomi Financial Group Inc. bought a new position in Oklo in the fourth quarter valued at about $19,285,000. Portland Investment Counsel Inc. bought a new position in shares of Oklo in the 3rd quarter valued at about $6,493,000. Readystate Asset Management LP bought a new stake in shares of Oklo during the third quarter worth approximately $6,193,000. Finally, Geode Capital Management LLC acquired a new position in Oklo in the third quarter valued at approximately $5,971,000. 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.