Oklo (NYSE:OKLO) Shares Up 14% – Here’s Why

Oklo Inc. (NYSE:OKLO) rose 14% on Thursday . The company traded as high as $38.67 and last traded at $38.95. Approximately 12,030,791 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 15,107,454 shares. The stock had previously closed at $34.17.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wedbush started 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. Citigroup upped their price target on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th.

Oklo Stock Up 13.9 %

The firm has a 50 day moving average price of $22.91 and a 200-day moving average price of $15.11.

Insider Activity at Oklo

In related news, Director Richard Kinzley purchased 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, with a total value of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated 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 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. 21.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently added to or reduced their stakes in OKLO. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo during the 3rd quarter valued at approximately $6,493,000. HITE Hedge Asset Management LLC acquired a new stake in shares of Oklo during the 3rd quarter valued at approximately $19,753,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo during the 4th quarter valued at approximately $19,285,000. State Street Corp acquired a new stake in shares of Oklo during the 3rd quarter valued at approximately $2,889,000. Finally, Joule Financial LLC purchased a new position in shares of Oklo during the 4th quarter worth approximately $1,963,000. Institutional investors and hedge funds 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.