Oklo (NYSE:OKLO) Trading Up 7.9% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) was up 7.9% during trading on Friday . The company traded as high as $42.60 and last traded at $41.86. Approximately 15,982,820 shares were traded during trading, a decline of 4% from the average daily volume of 16,681,271 shares. The stock had previously closed at $38.78.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OKLO shares. Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Wedbush initiated coverage on Oklo in a report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target on the stock.

Oklo Stock Performance

The firm has a 50 day moving average price of $23.21 and a 200 day moving average price of $15.27.

Insider Activity

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through this link. Also, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, 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. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of institutional investors have recently added to or reduced their stakes in OKLO. Kozak & Associates Inc. acquired a new stake in Oklo in the fourth quarter worth about $57,000. Barclays PLC acquired a new stake in Oklo in the third quarter worth about $58,000. Spire Wealth Management acquired a new stake in Oklo in the fourth quarter worth about $72,000. Y Intercept Hong Kong Ltd acquired a new stake in Oklo in the third quarter worth about $94,000. Finally, Wolff Wiese Magana LLC acquired a new stake in Oklo in the fourth quarter worth about $99,000. 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.