Oklo (NYSE:OKLO) Trading Up 7.2% – Time to Buy?

Oklo Inc. (NYSE:OKLO) traded up 7.2% during trading on Wednesday . The company traded as high as $24.00 and last traded at $23.61. 11,124,300 shares changed hands during trading, an increase of 78% from the average session volume of 6,264,099 shares. The stock had previously closed at $22.02.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OKLO shares. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research note on Friday, September 6th. B. Riley assumed coverage on Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company. Wedbush started coverage on Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Citigroup cut their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th.

Oklo Stock Up 1.8 %

The company has a fifty day moving average of $21.52 and a two-hundred day moving average of $12.88.

Insider Activity

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was 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 in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Barclays PLC acquired a new stake in Oklo during the third quarter worth about $58,000. Y Intercept Hong Kong Ltd bought a new position in shares of Oklo during the third quarter valued at approximately $94,000. Peapack Gladstone Financial Corp acquired a new stake in shares of Oklo during the 3rd quarter worth approximately $100,000. Sanctuary Advisors LLC bought a new stake in shares of Oklo in the 3rd quarter worth approximately $100,000. Finally, MML Investors Services LLC acquired a new position in Oklo during the 3rd quarter valued at approximately $104,000. 85.03% of the stock is currently owned by 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.