Oklo (NYSE:OKLO) Shares Up 14.9% – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s stock price shot up 14.9% during mid-day trading on Wednesday . The stock traded as high as $26.38 and last traded at $26.22. 6,592,383 shares traded hands during trading, a decline of 53% from the average session volume of 14,069,562 shares. The stock had previously closed at $22.81.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKLO. Wedbush began coverage on Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price on the stock. B. Riley assumed coverage on Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th.

Oklo Trading Up 13.0 %

The stock has a fifty day moving average of $22.44 and a 200 day moving average of $14.33.

Insider Buying and Selling

In other news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased 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 directly owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 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. 21.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

Several hedge funds have recently made changes to their positions in OKLO. Kozak & Associates Inc. bought a new stake in shares of Oklo during the 4th quarter valued at $57,000. Barclays PLC purchased a new position in Oklo during the third quarter worth about $58,000. Y Intercept Hong Kong Ltd purchased a new position in Oklo during the third quarter worth about $94,000. Wolff Wiese Magana LLC purchased a new position in Oklo during the fourth quarter worth about $99,000. Finally, Sanctuary Advisors LLC purchased a new position in Oklo during the third quarter worth about $100,000. 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.