Oklo (NYSE:OKLO) Stock Price Up 7.7% – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares traded up 7.7% during mid-day trading on Monday . The company traded as high as $26.80 and last traded at $26.09. 12,775,086 shares changed hands during trading, a decline of 13% from the average session volume of 14,609,750 shares. The stock had previously closed at $24.23.

Analyst Ratings Changes

OKLO has been the subject of a number of recent research reports. Citigroup upped their target price on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Wedbush started coverage on shares of Oklo in a report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective for the company.

Oklo Stock Performance

The company’s fifty day moving average price is $22.48 and its two-hundred day moving average price is $14.68.

Insider Activity at Oklo

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 shares were sold at an average price of $21.61, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently made changes to their positions in the company. Kozak & Associates Inc. bought a new position in Oklo in the fourth quarter valued at about $57,000. Wolff Wiese Magana LLC acquired a new stake in shares of Oklo during the 4th quarter worth approximately $99,000. Barclays PLC bought a new stake in shares of Oklo during the third quarter worth approximately $58,000. Y Intercept Hong Kong Ltd acquired a new position in Oklo in the third quarter valued at approximately $94,000. Finally, Peapack Gladstone Financial Corp bought a new position in Oklo in the third quarter valued at approximately $100,000. 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.