Oklo (NYSE:OKLO) Trading 12.1% Higher – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price traded up 12.1% during trading on Friday . The company traded as high as $26.65 and last traded at $26.84. 5,602,614 shares traded hands during trading, a decline of 70% from the average session volume of 18,493,662 shares. The stock had previously closed at $23.95.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wedbush increased their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Craig Hallum assumed coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Finally, B. Riley increased 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Oklo Trading Up 16.1 %

The business has a 50 day simple moving average of $35.85 and a two-hundred day simple moving average of $23.15.

Insiders Place Their Bets

In related 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 transaction, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased 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 trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OKLO. DRW Securities LLC purchased a new position in shares of Oklo in the 3rd quarter worth $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Oklo in the 3rd quarter valued at $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Oklo in the 3rd quarter valued at $104,000. Portland Investment Counsel Inc. acquired a new stake in Oklo in the 3rd quarter valued at $6,493,000. Finally, Atom Investors LP acquired a new stake in Oklo in the 3rd quarter valued at $657,000. 85.03% of the stock is 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.