Oklo (NYSE:OKLO) Stock Price Up 4.9% – Here’s Why

Oklo Inc. (NYSE:OKLO) was up 4.9% during trading on Thursday . The stock traded as high as $24.90 and last traded at $24.76. Approximately 5,697,767 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 6,255,627 shares. The stock had previously closed at $23.61.

Analysts Set New Price Targets

OKLO has been the subject of several research reports. Wedbush began coverage on Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective for the company. B. Riley initiated coverage on Oklo in a research note on Thursday, September 19th. They set a “buy” rating and a $10.00 target price for the company. Citigroup dropped their price objective on Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Finally, Seaport Res Ptn raised Oklo to a “hold” rating in a research note on Friday, September 6th.

Oklo Stock Up 0.8 %

The firm has a 50 day moving average of $21.35 and a two-hundred day moving average of $12.80.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’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 sale, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC acquired a new position in shares of Oklo during the third quarter worth $58,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Oklo during the third quarter valued at about $94,000. Peapack Gladstone Financial Corp purchased a new position in Oklo in the third quarter valued at about $100,000. Sanctuary Advisors LLC acquired a new stake in Oklo during the 3rd quarter valued at approximately $100,000. Finally, MML Investors Services LLC purchased a new stake in Oklo during the 3rd quarter worth approximately $104,000. 85.03% of the stock is 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.