Oklo (NYSE:OKLO) Stock Price Up 7.1% – What’s Next?

Oklo Inc. (NYSE:OKLO) shot up 7.1% on Wednesday . The stock traded as high as $52.45 and last traded at $50.20. 11,028,597 shares were traded during trading, a decline of 49% from the average session volume of 21,732,289 shares. The stock had previously closed at $46.89.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OKLO. Craig Hallum started coverage on Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target for the company. Wedbush increased their target price on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Oklo has an average rating of “Moderate Buy” and an average target price of $32.50.

Oklo Stock Performance

The company has a 50-day moving average of $26.06 and a two-hundred day moving average of $17.15.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley bought 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oklo

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