Oklo (NYSE:OKLO) Shares Up 14.4% – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s share price rose 14.4% on Tuesday . The company traded as high as $29.78 and last traded at $29.79. Approximately 8,760,173 shares changed hands during trading, a decline of 36% from the average daily volume of 13,701,385 shares. The stock had previously closed at $26.05.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OKLO shares. Citigroup boosted their price objective 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 Oklo in a report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price for the company.

Oklo Trading Up 13.4 %

The firm’s fifty day moving average price is $22.91 and its two-hundred day moving average price is $15.11.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost 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 ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is owned by company insiders.

Institutional Trading of Oklo

A number of hedge funds have recently bought and sold shares of OKLO. Kozak & Associates Inc. bought a new stake in shares of Oklo in the fourth quarter valued at $57,000. Barclays PLC purchased a new position in Oklo during the third quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Oklo during the 3rd quarter valued at $94,000. Wolff Wiese Magana LLC bought a new position in Oklo in the 4th quarter worth about $99,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Oklo during the third quarter worth about $100,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Company Profile

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.