Oklo (NYSE:OKLO) Stock Price Up 4.8% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) were up 4.8% during mid-day trading on Wednesday . The company traded as high as $53.83 and last traded at $52.49. Approximately 8,550,017 shares changed hands during trading, a decline of 61% from the average daily volume of 21,997,305 shares. The stock had previously closed at $50.08.

Analysts Set New Price Targets

OKLO has been the subject of several analyst reports. Wedbush lifted their target price on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Citigroup lifted their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. B. Riley boosted their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Craig Hallum started 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Oklo Stock Up 8.1 %

The stock’s fifty day moving average price is $29.01 and its 200 day moving average price is $18.65.

Insider Activity

In related news, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This 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

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sandy Spring Bank purchased a new position in Oklo in the 4th quarter worth $32,000. Anfield Capital Management LLC acquired a new stake in shares of Oklo during the fourth quarter worth about $43,000. AlphaQuest LLC purchased a new stake in Oklo in the fourth quarter valued at approximately $45,000. Kozak & Associates Inc. acquired a new position in Oklo in the 4th quarter worth approximately $57,000. Finally, Spire Wealth Management acquired a new position in Oklo in the 4th quarter worth approximately $72,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Company Profile

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.