Oklo (NYSE:OKLO) Stock Price Up 6.2% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) rose 6.2% on Friday . The company traded as high as $43.78 and last traded at $44.51. Approximately 9,460,150 shares traded hands during trading, a decline of 55% from the average daily volume of 20,958,465 shares. The stock had previously closed at $41.91.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OKLO shares. Citigroup increased their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Wedbush upped their price objective on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Craig Hallum assumed coverage on Oklo in a report on Tuesday. They issued a “buy” rating and a $44.00 price target for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Oklo presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Oklo Trading Up 2.0 %

The business has a fifty day moving average of $24.77 and a 200-day moving average of $16.28.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction 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 $271,056,066.85. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of 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 disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Hedge funds have recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo during the third quarter worth approximately $19,753,000. Van ECK Associates Corp bought a new position in Oklo during the fourth quarter worth $38,661,000. Atomi Financial Group Inc. bought a new stake in Oklo in the 4th quarter valued at $19,285,000. Portland Investment Counsel Inc. acquired a new stake in Oklo in the 3rd quarter worth $6,493,000. Finally, Readystate Asset Management LP bought a new position in shares of Oklo during the 3rd quarter worth about $6,193,000. Institutional investors own 85.03% of the company’s stock.

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.