Oklo (NYSE:OKLO) Shares Up 7.1% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares were up 7.1% during trading on Wednesday . The stock traded as high as $52.45 and last traded at $50.20. Approximately 11,028,597 shares traded hands during trading, a decline of 49% from the average daily volume of 21,732,289 shares. The stock had previously closed at $46.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup boosted their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Craig Hallum started coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. B. Riley lifted their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wedbush increased their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Oklo presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Trading Up 15.7 %

The business’s 50 day moving average price is $27.15 and its 200-day moving average price is $17.60.

Insiders Place Their Bets

In other Oklo news, 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently modified their holdings of OKLO. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo in the third quarter valued at approximately $19,753,000. Van ECK Associates Corp acquired a new position in Oklo in the 4th quarter valued at $38,661,000. Atomi Financial Group Inc. acquired a new position in Oklo in the 4th quarter valued at $19,285,000. TimesSquare Capital Management LLC purchased a new position in shares of Oklo during the 4th quarter worth $17,104,000. Finally, Portland Investment Counsel Inc. acquired a new stake in shares of Oklo during the third quarter worth $6,493,000. Hedge funds and other institutional investors 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.