Oklo (NYSE:OKLO) Trading 7.3% Higher – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) traded up 7.3% during trading on Friday . The company traded as high as $25.69 and last traded at $26.01. 4,181,064 shares traded hands during trading, a decline of 69% from the average session volume of 13,412,084 shares. The stock had previously closed at $24.23.

Analysts Set New Price Targets

A number of research firms have weighed in on OKLO. Wedbush started 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. Citigroup upped their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th.

Oklo Price Performance

The business has a 50-day moving average of $22.48 and a 200 day moving average of $14.59.

Insider Transactions at Oklo

In other news, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Large investors have recently made changes to their positions in the business. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo in the 3rd quarter worth about $19,753,000. Atomi Financial Group Inc. purchased a new position in Oklo in the fourth quarter valued at about $19,285,000. Portland Investment Counsel Inc. bought a new position in shares of Oklo during the 3rd quarter valued at approximately $6,493,000. Readystate Asset Management LP bought a new position in shares of Oklo during the 3rd quarter valued at approximately $6,193,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Oklo during the 3rd quarter worth approximately $5,971,000. 85.03% of the stock is 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.