Oklo (NYSE:OKLO) Stock Price Up 7.2% – Time to Buy?

Oklo Inc. (NYSE:OKLO) traded up 7.2% on Tuesday . The company traded as high as $24.00 and last traded at $23.60. 6,714,168 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 6,239,320 shares. The stock had previously closed at $22.02.

Wall Street Analyst Weigh In

A number of research firms recently commented on OKLO. Seaport Res Ptn raised Oklo to a “hold” rating in a report on Friday, September 6th. B. Riley started coverage on shares of Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price on the stock. Wedbush began coverage on shares of Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price for the company. Finally, Citigroup decreased their price target on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th.

Oklo Trading Up 7.2 %

The business has a 50-day moving average price of $21.35 and a 200 day moving average price of $12.80.

Insider Buying and Selling at Oklo

In other Oklo 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 sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 21.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently modified their holdings of the stock. Portland Investment Counsel Inc. purchased a new position in Oklo during the third quarter worth $6,493,000. HITE Hedge Asset Management LLC bought a new stake in shares of Oklo in the 3rd quarter worth about $19,753,000. DRW Securities LLC purchased a new position in shares of Oklo during the 3rd quarter worth about $404,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Oklo during the 3rd quarter worth about $104,000. Finally, Atom Investors LP bought a new position in Oklo during the 3rd quarter valued at about $657,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.