Oklo (NYSE:OKLO) Trading 12.9% Higher – Still a Buy?

Oklo Inc. (NYSE:OKLO) shot up 12.9% on Monday . The company traded as high as $30.95 and last traded at $30.68. 9,407,832 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 11,566,498 shares. The stock had previously closed at $27.16.

Wall Street Analysts Forecast Growth

OKLO has been the subject of a number of research analyst reports. Craig Hallum began coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target for the company. Citigroup dropped their target price on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday. B. Riley boosted their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Wedbush restated an “outperform” rating and set a $45.00 price objective on shares of Oklo in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.25.

Oklo Trading Down 6.9 %

The stock has a fifty day moving average of $36.13 and a two-hundred day moving average of $24.36.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. bought a new position in shares of Oklo during the 4th quarter valued at $27,000. CoreCap Advisors LLC bought a new position in shares of Oklo during the fourth quarter valued at about $32,000. Sandy Spring Bank bought a new position in shares of Oklo during the fourth quarter valued at about $32,000. Covestor Ltd purchased a new position in shares of Oklo in the fourth quarter worth about $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo in the 4th quarter valued at about $43,000. 85.03% of the stock is 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.