Oklo (NYSE:OKLO) Trading 14.9% Higher – Time to Buy?

Oklo Inc. (NYSE:OKLO) shot up 14.9% during mid-day trading on Wednesday . The stock traded as high as $26.38 and last traded at $26.22. 6,592,383 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 14,069,562 shares. The stock had previously closed at $22.81.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OKLO shares. B. Riley assumed coverage on shares of Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 price target for the company. 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 objective on the stock. Finally, Citigroup upped their target price on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th.

Oklo Trading Up 7.7 %

The company has a 50-day moving average price of $22.44 and a 200-day moving average price of $14.47.

Insider Buying and Selling

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

Institutional Trading of Oklo

Hedge funds have recently bought and sold shares of the stock. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo in the third quarter valued at approximately $19,753,000. Atomi Financial Group Inc. bought a new stake in Oklo in the 4th quarter valued at $19,285,000. Portland Investment Counsel Inc. acquired a new position in Oklo in the 3rd quarter worth $6,493,000. Readystate Asset Management LP bought a new position in Oklo during the 3rd quarter worth about $6,193,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Oklo in the 3rd quarter valued at about $5,971,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.