Oklo (NYSE:OKLO) Sets New 12-Month High – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $28.89 and last traded at $28.42, with a volume of 4457874 shares. The stock had previously closed at $27.25.

Wall Street Analyst Weigh In

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

Oklo Trading Up 15.9 %

The company’s 50-day moving average is $21.94 and its two-hundred day moving average is $13.49.

Insider Activity

In other news, CEO Jacob Dewitte sold 230,569 shares of the company’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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, with a total value 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 position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of large investors have recently made changes to their positions in OKLO. Peapack Gladstone Financial Corp purchased a new stake in Oklo during the 3rd quarter worth about $100,000. Sanctuary Advisors LLC bought a new stake in shares of Oklo during the third quarter valued at about $100,000. Barclays PLC bought a new stake in shares of Oklo during the third quarter valued at about $58,000. Geode Capital Management LLC purchased a new stake in shares of Oklo in the third quarter worth about $5,971,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Oklo in the third quarter valued at approximately $94,000. 85.03% of the stock is 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.