Oklo (NYSE:OKLO) Sees Large Volume Increase Following Analyst Upgrade

Oklo Inc. (NYSE:OKLO) saw unusually-strong trading volume on Friday after Wedbush raised their price target on the stock from $26.00 to $45.00. Wedbush currently has an outperform rating on the stock. Approximately 12,958,366 shares changed hands during trading, a decline of 22% from the previous session’s volume of 16,542,627 shares.The stock last traded at $40.71 and had previously closed at $38.78.

Separately, Citigroup lifted 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.

Insider Activity

In other news, Director Richard Kinzley acquired 5,000 shares of the business’s stock in a transaction 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 completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction that occurred 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 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. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in the company. WJ Wealth Management LLC acquired a new stake in shares of Oklo during the fourth quarter worth $457,000. Vantage Point Financial LLC acquired a new position in shares of Oklo in the 4th quarter valued at about $208,000. Spire Wealth Management bought a new stake in shares of Oklo during the 4th quarter valued at about $72,000. Caprock Group LLC acquired a new stake in Oklo during the fourth quarter worth about $2,819,000. Finally, Strategic Planning Group LLC bought a new position in Oklo in the fourth quarter worth about $3,085,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Stock Up 8.0 %

The stock has a 50 day simple moving average of $23.69 and a 200 day simple moving average of $15.51.

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.