Oklo (NYSE:OKLO) Trading 11.5% Higher – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s stock price was up 11.5% during mid-day trading on Monday . The company traded as high as $30.92 and last traded at $30.38. Approximately 13,287,436 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 14,408,376 shares. The stock had previously closed at $27.25.

Wall Street Analyst Weigh In

OKLO has been the subject of several research reports. B. Riley initiated coverage on shares of Oklo in a research note on Thursday, September 19th. They set a “buy” rating and a $10.00 price objective for the company. Citigroup increased 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. Finally, Wedbush initiated coverage on Oklo in a report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target on the stock.

Oklo Stock Down 10.9 %

The stock’s fifty day moving average is $22.14 and its 200-day moving average is $13.78.

Insiders Place Their Bets

In related news, Director Richard Kinzley acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were 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 $99,750. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the business’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 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. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

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