Oklo (NYSE:OKLO) Trading Up 6.1% – Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO) rose 6.1% during trading on Monday . The stock traded as high as $44.38 and last traded at $44.13. Approximately 13,409,819 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 21,390,307 shares. The stock had previously closed at $41.61.

Analyst Upgrades and Downgrades

OKLO has been the topic of several research reports. Citigroup boosted their price target 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 initiated coverage on shares of Oklo in a report on Tuesday, January 28th. They issued 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 report on Friday, January 24th. Two 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.com, Oklo has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Oklo Price Performance

The stock’s 50-day moving average is $25.10 and its two-hundred day moving average is $16.62.

Insider Transactions at Oklo

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $99,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the 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 sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Portland Investment Counsel Inc. purchased a new position in shares of Oklo in the 3rd quarter valued at approximately $6,493,000. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo in the third quarter worth $19,753,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo during the fourth quarter worth $19,285,000. Archford Capital Strategies LLC purchased a new stake in shares of Oklo during the fourth quarter valued at $212,000. Finally, Barclays PLC acquired a new position in shares of Oklo in the 3rd quarter valued at $58,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

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.