Oklo (NYSE:OKLO) Trading 12.1% Higher – Time to Buy?

Oklo Inc. (NYSE:OKLO) was up 12.1% during mid-day trading on Friday . The stock traded as high as $26.65 and last traded at $26.84. Approximately 5,602,614 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 18,493,662 shares. The stock had previously closed at $23.95.

Wall Street Analysts Forecast Growth

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

Oklo Stock Up 16.1 %

The stock has a 50 day moving average of $35.85 and a 200 day moving average of $23.15.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is available at this link. Also, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. The trade was 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.

Hedge Funds Weigh In On Oklo

Large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. bought a new position in Oklo in the fourth quarter worth about $27,000. CoreCap Advisors LLC bought a new position in Oklo in the fourth quarter worth about $32,000. Sandy Spring Bank bought a new position in Oklo in the fourth quarter worth about $32,000. Covestor Ltd bought a new stake in shares of Oklo during the fourth quarter valued at approximately $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo during the fourth quarter valued at approximately $43,000. 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.