Oklo (NYSE:OKLO) Stock Price Up 4.8% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price traded up 4.8% during trading on Wednesday . The stock traded as high as $53.83 and last traded at $52.49. 8,550,017 shares traded hands during trading, a decline of 61% from the average session volume of 21,997,305 shares. The stock had previously closed at $50.08.

Analysts Set New Price Targets

A number of research analysts have issued reports on OKLO shares. Wedbush boosted their price target on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Citigroup increased their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Finally, B. Riley lifted their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Performance

The company has a 50 day moving average price of $29.01 and a two-hundred day moving average price of $18.65.

Insider Buying and Selling at Oklo

In other Oklo news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. DRW Securities LLC purchased a new position in shares of Oklo during the 3rd quarter worth approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Oklo in the third quarter valued at $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Oklo in the 3rd quarter valued at $104,000. Portland Investment Counsel Inc. acquired a new position in Oklo during the 3rd quarter worth about $6,493,000. Finally, Atom Investors LP acquired a new position in Oklo in the 3rd quarter valued at about $657,000. 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.