Oklo (NYSE:OKLO) Stock Price Up 3.4% – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s share price was up 3.4% during mid-day trading on Monday . The company traded as high as $29.74 and last traded at $28.65. Approximately 7,133,910 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 18,412,025 shares. The stock had previously closed at $27.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on OKLO shares. Craig Hallum started coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price for the company. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Wedbush upped their price objective 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 boosted their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Two investment 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, the company currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Up 2.3 %

The company has a fifty day moving average price of $35.85 and a 200-day moving average price of $23.27.

Insider Buying and Selling

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought 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 approximately $99,750. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 230,569 shares of the business’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 $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently modified their holdings of the stock. DRW Securities LLC purchased a new stake in shares of Oklo in the third quarter valued at about $404,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Oklo during the 3rd quarter worth $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 about $104,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo in the third quarter valued at about $6,493,000. Finally, Atom Investors LP purchased a new stake in Oklo during the third quarter worth about $657,000. 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.