Oklo (NYSE:OKLO) Shares Up 10.4% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) was up 10.4% on Tuesday . The company traded as high as $25.70 and last traded at $26.17. Approximately 5,340,095 shares traded hands during trading, a decline of 72% from the average daily volume of 18,869,430 shares. The stock had previously closed at $23.69.

Analyst Ratings Changes

Several brokerages have issued reports on OKLO. B. Riley upped their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Citigroup raised their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Wedbush increased their price target 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Trading Down 8.5 %

The business has a 50-day moving average of $35.80 and a 200-day moving average of $22.88.

Insider Buying and Selling at Oklo

In other news, Director Richard Kinzley purchased 5,000 shares of the 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 transaction, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the sale, the chief executive officer now owns 12,543,085 shares in the company, valued at $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

Hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Oklo by 1.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock valued at $104,646,000 after purchasing an additional 74,315 shares during the period. Vanguard Group Inc. lifted its holdings in Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after buying an additional 2,090,154 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new position in Oklo in the 3rd quarter valued at approximately $19,753,000. Van ECK Associates Corp acquired a new position in shares of Oklo in the fourth quarter worth $38,661,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Oklo in the fourth quarter worth $19,285,000. 85.03% of the stock is currently owned by hedge funds and other 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.