Oklo (NYSE:OKLO) Stock Price Up 3.1% – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s share price traded up 3.1% during trading on Wednesday . The company traded as high as $38.09 and last traded at $35.19. 16,457,082 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 20,026,191 shares. The stock had previously closed at $34.12.

Analysts Set New Price Targets

Several brokerages have weighed in on OKLO. Craig Hallum began coverage on Oklo in a research report on Tuesday. They issued a “buy” rating and a $44.00 price objective for the company. Citigroup upped their price target on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Finally, Wedbush raised their price target on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Oklo Stock Performance

The business has a fifty day moving average of $24.14 and a 200 day moving average of $15.97.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Kinzley bought 5,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. DRW Securities LLC bought a new stake in Oklo during the third quarter worth about $404,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Oklo during the third quarter valued at approximately $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Oklo in the 3rd quarter worth approximately $104,000. Portland Investment Counsel Inc. purchased a new stake in shares of Oklo in the 3rd quarter worth approximately $6,493,000. Finally, Atom Investors LP purchased a new position in Oklo during the third quarter valued at $657,000. 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.