Oklo (NYSE:OKLO) Shares Gap Up – Still a Buy?

Oklo Inc. (NYSE:OKLO) gapped up prior to trading on Wednesday . The stock had previously closed at $26.02, but opened at $26.94. Oklo shares last traded at $26.41, with a volume of 1,063,614 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently commented on OKLO. Wedbush upped 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. Craig Hallum began coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Citigroup upped 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. Finally, B. Riley boosted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Price Performance

The stock has a fifty day simple moving average of $35.74 and a 200-day simple moving average of $23.56.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of the company’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 transaction of $4,982,596.09. Following the completion of the transaction, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OKLO. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo during the 4th quarter worth approximately $27,000. Sandy Spring Bank acquired a new position in Oklo in the 4th quarter valued at $32,000. CoreCap Advisors LLC acquired a new position in Oklo in the 4th quarter valued at $32,000. Covestor Ltd acquired a new position in Oklo in the 4th quarter valued at $34,000. Finally, Anfield Capital Management LLC acquired a new position in Oklo in the 4th quarter valued at $43,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.