Oklo (NYSE:OKLO) Shares Up 7.3% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) traded up 7.3% during trading on Friday . The company traded as high as $25.69 and last traded at $26.01. 4,181,064 shares were traded during trading, a decline of 69% from the average session volume of 13,412,084 shares. The stock had previously closed at $24.23.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wedbush assumed coverage on Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price objective for the company. Citigroup upped 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.

Oklo Stock Performance

The stock has a 50-day moving average price of $22.48 and a 200-day moving average price of $14.59.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Kinzley bought 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Several large investors have recently modified their holdings of the stock. Portland Investment Counsel Inc. bought a new position in Oklo during the third quarter worth $6,493,000. HITE Hedge Asset Management LLC bought a new position in shares of Oklo during the 3rd quarter worth about $19,753,000. State Street Corp acquired a new stake in shares of Oklo in the 3rd quarter valued at about $2,889,000. DRW Securities LLC bought a new stake in Oklo in the 3rd quarter valued at about $404,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Oklo during the 3rd quarter worth approximately $104,000. Institutional investors and hedge funds 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.