Oklo (NYSE:OKLO) Stock Price Up 1.7% – Here’s Why

Oklo Inc. (NYSE:OKLO) traded up 1.7% during mid-day trading on Tuesday . The stock traded as high as $24.30 and last traded at $23.28. 4,291,295 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 14,308,809 shares. The stock had previously closed at $22.88.

Wall Street Analyst Weigh In

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

Oklo Price Performance

The company’s 50 day moving average price is $22.40 and its two-hundred day moving average price is $14.23.

Insider Activity

In related news, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’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 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 position. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Large investors have recently added to or reduced their stakes in the business. Kozak & Associates Inc. acquired a new position in shares of Oklo during the fourth quarter worth $57,000. Barclays PLC purchased a new stake in Oklo in the third quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Oklo during the third quarter worth approximately $94,000. Wolff Wiese Magana LLC acquired a new position in shares of Oklo in the 4th quarter valued at $99,000. Finally, Sanctuary Advisors LLC purchased a new stake in Oklo in the 3rd quarter valued at $100,000. 85.03% of the stock is owned by hedge funds and other 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.