Oklo (NYSE:OKLO) Trading Up 9.6% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) shot up 9.6% during trading on Wednesday . The stock traded as high as $34.80 and last traded at $34.24. 11,850,467 shares traded hands during trading, a decline of 19% from the average session volume of 14,608,462 shares. The stock had previously closed at $31.25.

Analyst Upgrades and Downgrades

OKLO has been the subject of several research analyst reports. Citigroup boosted their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Wedbush lifted their price objective on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday.

Oklo Stock Up 8.0 %

The stock has a 50 day simple moving average of $23.21 and a 200 day simple moving average of $15.27.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, with a total value of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of institutional investors have recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC bought a new stake in shares of Oklo in the 3rd quarter worth $19,753,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo in the 4th quarter worth approximately $19,285,000. Portland Investment Counsel Inc. acquired a new stake in Oklo during the third quarter valued at approximately $6,493,000. Readystate Asset Management LP bought a new stake in Oklo during the third quarter worth approximately $6,193,000. Finally, Geode Capital Management LLC bought a new stake in shares of Oklo during the 3rd quarter worth $5,971,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.