Oklo (NYSE:OKLO) Stock Price Up 7.3% – Still a Buy?

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

Analyst Ratings Changes

Several brokerages have issued reports on OKLO. Wedbush started coverage on Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price for the company. Citigroup upped their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Finally, B. Riley began 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 Stock Performance

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

Insiders Place Their Bets

In related news, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction on Friday, December 20th. The shares were 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 in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Several large investors have recently made changes to their positions in OKLO. Kozak & Associates Inc. purchased a new position in shares of Oklo during the fourth quarter worth $57,000. Barclays PLC purchased a new position in shares of Oklo during the 3rd quarter valued at about $58,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Oklo in the 3rd quarter valued at about $94,000. Wolff Wiese Magana LLC purchased a new stake in shares of Oklo in the fourth quarter worth about $99,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Oklo in the third quarter worth about $100,000. 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.