Oklo (NYSE:OKLO) Shares Gap Up – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares gapped up prior to trading on Wednesday . The stock had previously closed at $32.07, but opened at $34.50. Oklo shares last traded at $35.65, with a volume of 7,630,331 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OKLO. Craig Hallum started coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Citigroup raised their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. B. Riley increased their target price on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Wedbush increased their price objective on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Oklo presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Up 12.8 %

The company has a fifty day moving average price of $34.28 and a 200-day moving average price of $21.31.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Kinzley bought 5,000 shares of the 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 completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Portland Investment Counsel Inc. bought a new position in shares of Oklo in the 3rd quarter worth about $6,493,000. HITE Hedge Asset Management LLC acquired a new stake in shares of Oklo in the third quarter valued at $19,753,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo in the 4th quarter worth approximately $19,285,000. Archford Capital Strategies LLC bought a new stake in shares of Oklo during the 4th quarter worth $212,000. Finally, Barclays PLC acquired a new position in shares of Oklo in the 3rd quarter valued at $58,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.