Oklo (NYSE:OKLO) Reaches New 52-Week High – What’s Next?

Oklo Inc. (NYSE:OKLO) reached a new 52-week high during trading on Friday . The company traded as high as $52.99 and last traded at $47.75, with a volume of 19851250 shares trading hands. The stock had previously closed at $50.50.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on OKLO shares. Craig Hallum initiated 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. Wedbush boosted their price objective on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Citigroup increased their target price on 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 assigned a buy rating to the company. According to MarketBeat, Oklo presently has an average rating of “Moderate Buy” and an average target price of $32.50.

Oklo Stock Performance

The firm’s 50 day simple moving average is $26.63 and its 200-day simple moving average is $17.39.

Insider Activity at Oklo

In other news, Director Richard Kinzley bought 5,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now 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 acquisition 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 firm’s stock in a transaction on 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 approximately $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. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. Portland Investment Counsel Inc. acquired a new position in shares of Oklo in the third quarter worth about $6,493,000. HITE Hedge Asset Management LLC purchased a new stake in Oklo during the 3rd quarter worth approximately $19,753,000. Atomi Financial Group Inc. acquired a new position in shares of Oklo in the 4th quarter valued at approximately $19,285,000. Archford Capital Strategies LLC purchased a new position in shares of Oklo during the 4th quarter valued at approximately $212,000. Finally, Barclays PLC purchased a new position in shares of Oklo during the 3rd quarter valued at approximately $58,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.