Shares of Oklo Inc. (NYSE:OKLO – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $28.00, but opened at $27.00. Oklo shares last traded at $26.41, with a volume of 2,339,351 shares trading hands.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. B. Riley upped their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Citigroup upped their target price on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Wedbush increased their price target on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Craig Hallum started coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.50.
Oklo Stock Down 5.7 %
Insiders Place Their Bets
In other news, Director Richard Kinzley acquired 5,000 shares of Oklo 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 of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s 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 $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.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Oklo by 1.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock worth $104,646,000 after acquiring an additional 74,315 shares during the period. Vanguard Group Inc. increased its position in shares of Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after buying an additional 2,090,154 shares during the period. HITE Hedge Asset Management LLC bought a new position in Oklo during the third quarter worth $19,753,000. Van ECK Associates Corp acquired a new stake in Oklo during the 4th quarter worth about $38,661,000. Finally, Atomi Financial Group Inc. bought a new position in Oklo during the fourth quarter worth $19,285,000. 85.03% of the stock is 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.
Read More
- Five stocks we like better than Oklo
- Health Care Stocks Explained: Why You Might Want to Invest
- Arqit Stock Soars as NVIDIA’s GTC Fuels Quantum Excitement
- Short Selling – The Pros and Cons
- 3 Must-Own Stocks to Build Wealth This Decade
- What is the FTSE 100 index?
- Advanced Micro Devices Eyes AI Market Growth—Is AMD a Buy?
Receive News & Ratings for Oklo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oklo and related companies with MarketBeat.com's FREE daily email newsletter.