Oklo (NYSE:OKLO) Trading Up 1.7% – Time to Buy?

Oklo Inc. (NYSE:OKLO) traded up 1.7% during mid-day trading on Tuesday . The stock traded as high as $31.91 and last traded at $30.52. 8,368,007 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 16,699,977 shares. The stock had previously closed at $30.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OKLO shares. B. Riley began coverage on Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price for the company. Citigroup reduced their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Wedbush initiated coverage on shares of Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target for the company.

Oklo Trading Down 4.8 %

The company’s 50-day moving average is $22.05 and its two-hundred day moving average is $13.63.

Insider Activity at Oklo

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $99,750. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction 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 owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OKLO. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo during the third quarter valued at $19,753,000. Portland Investment Counsel Inc. bought a new position in Oklo during the 3rd quarter worth about $6,493,000. Readystate Asset Management LP purchased a new position in Oklo during the 3rd quarter valued at about $6,193,000. Geode Capital Management LLC bought a new stake in shares of Oklo in the 3rd quarter valued at about $5,971,000. Finally, State Street Corp purchased a new stake in shares of Oklo in the 3rd quarter worth approximately $2,889,000. 85.03% of the stock is currently owned by hedge funds and other 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.