Oklo (NYSE:OKLO) Shares Up 7.2% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) was up 7.2% during trading on Tuesday . The company traded as high as $24.00 and last traded at $23.60. Approximately 6,714,168 shares were traded during trading, an increase of 8% from the average daily volume of 6,239,320 shares. The stock had previously closed at $22.02.

Wall Street Analyst Weigh In

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

Oklo Trading Up 7.2 %

The business has a 50-day moving average price of $20.97 and a 200-day moving average price of $12.62.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Peapack Gladstone Financial Corp bought a new stake in Oklo in the third quarter valued at $100,000. Sanctuary Advisors LLC bought a new stake in shares of Oklo in the 3rd quarter worth about $100,000. Barclays PLC acquired a new stake in shares of Oklo during the 3rd quarter worth about $58,000. Geode Capital Management LLC bought a new position in Oklo during the 3rd quarter valued at about $5,971,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Oklo in the third quarter valued at about $94,000. Institutional investors own 85.03% of the company’s stock.

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.