Oklo (NYSE:OKLO) Shares Gap Up – Time to Buy?

Shares of Oklo Inc. (NYSE:OKLO) gapped up prior to trading on Tuesday . The stock had previously closed at $26.05, but opened at $27.62. Oklo shares last traded at $27.24, with a volume of 4,678,577 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on OKLO shares. Citigroup raised their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Wedbush started coverage on shares of Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective on the stock.

Oklo Trading Up 17.8 %

The firm’s 50-day moving average price is $22.52 and its 200 day moving average price is $14.81.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost 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 trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kozak & Associates Inc. bought a new position in Oklo in the fourth quarter valued at $57,000. Wolff Wiese Magana LLC purchased a new stake in Oklo in the fourth quarter worth approximately $99,000. Barclays PLC purchased a new position in shares of Oklo during the third quarter worth approximately $58,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Oklo in the 3rd quarter worth approximately $94,000. Finally, Peapack Gladstone Financial Corp purchased a new position in Oklo in the 3rd quarter worth $100,000. Hedge funds and other 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.