Oklo (NYSE:OKLO) Shares Gap Up – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $25.47, but opened at $27.47. Oklo shares last traded at $26.08, with a volume of 4,058,541 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup boosted their price target on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Wedbush lifted 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 report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Finally, B. Riley upped their price target on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Performance

The stock has a 50-day simple moving average of $35.84 and a 200 day simple moving average of $22.89.

Insider Activity

In related news, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction 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 completion of the acquisition, 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 is available through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’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 transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents 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 Investors Weigh In On Oklo

Large investors have recently bought and sold shares of the company. Windmill Hill Asset Management Ltd purchased a new position in shares of Oklo in the fourth quarter worth about $1,476,000. Polar Asset Management Partners Inc. acquired a new position in shares of Oklo in the fourth quarter valued at approximately $781,000. Alpine Global Management LLC acquired a new stake in Oklo during the 4th quarter worth approximately $427,000. Value Aligned Research Advisors LLC purchased a new position in Oklo in the 4th quarter valued at approximately $1,209,000. Finally, Gordian Capital Singapore Pte Ltd grew its stake in shares of Oklo by 1,058.3% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 6,000 shares of the company’s stock worth $127,000 after acquiring an additional 5,482 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.