Oklo (NYSE:OKLO) Shares Up 6.1% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares rose 6.1% during trading on Monday . The company traded as high as $44.38 and last traded at $44.13. Approximately 13,409,819 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 21,390,307 shares. The stock had previously closed at $41.61.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OKLO shares. Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. Citigroup upped their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Finally, Wedbush raised their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Oklo Price Performance

The company’s 50-day moving average price is $25.10 and its 200-day moving average price is $16.62.

Insiders Place Their Bets

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is owned by company insiders.

Hedge Funds 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 shares of Oklo in the 4th quarter worth $57,000. Spire Wealth Management purchased a new stake in shares of Oklo in the fourth quarter valued at about $72,000. Wolff Wiese Magana LLC acquired a new stake in Oklo during the fourth quarter worth about $99,000. Stephens Consulting LLC purchased a new position in Oklo during the fourth quarter worth about $127,000. Finally, Barclays PLC purchased a new stake in shares of Oklo in the 3rd quarter valued at approximately $58,000. Hedge funds and other 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.