Oklo (NYSE:OKLO) Shares Up 7.2% – Time to Buy?

Oklo Inc. (NYSE:OKLO) shares traded up 7.2% on Tuesday . The stock traded as high as $24.00 and last traded at $23.60. 6,714,168 shares were traded during trading, an increase of 8% from the average session volume of 6,239,320 shares. The stock had previously closed at $22.02.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OKLO. Citigroup cut their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Wedbush initiated coverage on shares of Oklo in a report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price for the company. B. Riley assumed coverage on shares of Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a research report on Friday, September 6th.

Oklo Trading Up 7.2 %

The firm has a 50-day moving average of $20.97 and a two-hundred day moving average of $12.62.

Insider Activity

In other news, CEO Jacob Dewitte sold 230,569 shares of the company’s 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 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 represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Peapack Gladstone Financial Corp bought a new position in Oklo during the third quarter valued at approximately $100,000. Sanctuary Advisors LLC bought a new position in shares of Oklo during the 3rd quarter valued at $100,000. Barclays PLC bought a new position in shares of Oklo during the 3rd quarter valued at $58,000. Geode Capital Management LLC acquired a new stake in shares of Oklo in the 3rd quarter valued at $5,971,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Oklo in the third quarter worth $94,000. Hedge funds and other 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.