Oklo (NYSE:OKLO) Stock Price Up 4.5% – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s share price shot up 4.5% on Thursday . The company traded as high as $29.67 and last traded at $29.32. 5,320,949 shares changed hands during trading, a decline of 54% from the average session volume of 11,556,203 shares. The stock had previously closed at $28.05.

Analyst Ratings Changes

A number of brokerages have weighed in on OKLO. Wedbush increased their price target on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. B. Riley increased their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Citigroup raised their price target on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Finally, Craig Hallum initiated coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Oklo has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Performance

The firm has a 50 day moving average price of $35.78 and a two-hundred day moving average price of $23.59.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $271,056,066.85. This represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,000 shares in the company, valued at $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently made changes to their positions in OKLO. HITE Hedge Asset Management LLC bought a new position in shares of Oklo in the 3rd quarter worth approximately $19,753,000. Vanguard Group Inc. lifted its stake in shares of Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares during the period. Van ECK Associates Corp bought a new position in shares of Oklo in the 4th quarter worth approximately $38,661,000. Atomi Financial Group Inc. bought a new stake in Oklo during the 4th quarter worth approximately $19,285,000. Finally, TimesSquare Capital Management LLC bought a new stake in Oklo during the 4th quarter worth approximately $17,104,000. Institutional investors own 85.03% of the company’s stock.

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.