Oklo (NYSE:OKLO) Trading Up 7.9% – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) were up 7.9% during trading on Friday . The company traded as high as $42.60 and last traded at $41.86. Approximately 15,982,820 shares were traded during trading, a decline of 4% from the average daily volume of 16,681,271 shares. The stock had previously closed at $38.78.

Analyst Ratings Changes

A number of equities analysts recently issued reports on OKLO shares. Wedbush started coverage on shares of Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target on the stock. Citigroup upped their price target 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.

Oklo Price Performance

The stock has a 50-day simple moving average of $23.21 and a two-hundred day simple moving average of $15.27.

Insiders Place Their Bets

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. 21.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OKLO. Kozak & Associates Inc. bought a new position in shares of Oklo during the 4th quarter valued at approximately $57,000. Barclays PLC bought a new position in Oklo in the 3rd quarter worth approximately $58,000. Spire Wealth Management bought a new position in Oklo in the 4th quarter worth approximately $72,000. Y Intercept Hong Kong Ltd bought a new position in Oklo in the 3rd quarter worth approximately $94,000. Finally, Wolff Wiese Magana LLC bought a new position in Oklo in the 4th quarter worth approximately $99,000. 85.03% of the stock is currently owned by institutional investors.

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.