Oklo (NYSE:OKLO) Trading 3.1% Higher – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price was up 3.1% during trading on Wednesday . The stock traded as high as $38.09 and last traded at $35.19. Approximately 16,457,082 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 20,026,191 shares. The stock had previously closed at $34.12.

Wall Street Analysts Forecast Growth

OKLO has been the topic of several recent analyst reports. Craig Hallum assumed coverage on Oklo in a report on Tuesday. They set a “buy” rating and a $44.00 price objective on the stock. Citigroup increased their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Finally, Wedbush increased their price objective on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Oklo Stock Up 0.2 %

The stock has a 50 day moving average price of $24.77 and a two-hundred day moving average price of $16.28.

Insider Activity

In related news, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares in the company, 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 this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the sale, the chief executive officer now 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. 21.80% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

A number of institutional investors have recently modified their holdings of the stock. DRW Securities LLC bought a new stake in shares of Oklo during the 3rd quarter worth $404,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Oklo during the 3rd quarter valued at $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Oklo during the 3rd quarter valued at $104,000. Portland Investment Counsel Inc. purchased a new stake in Oklo during the 3rd quarter valued at about $6,493,000. Finally, Atom Investors LP bought a new position in shares of Oklo in the 3rd quarter worth approximately $657,000. 85.03% of the stock is currently owned by 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.