Oklo (NYSE:OKLO) Stock Price Up 7.2% – Still a Buy?

Oklo Inc. (NYSE:OKLO)’s share price was up 7.2% on Wednesday . The stock traded as high as $24.00 and last traded at $23.61. Approximately 11,124,300 shares were traded during trading, an increase of 78% from the average daily volume of 6,264,099 shares. The stock had previously closed at $22.02.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OKLO. B. Riley assumed coverage on Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective on the stock. 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. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research report on Friday, September 6th. Finally, Wedbush assumed coverage on shares of Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price on the stock.

Oklo Stock Performance

The company has a 50-day moving average of $21.52 and a two-hundred day moving average of $12.88.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the sale, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. The trade was a 1.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. HITE Hedge Asset Management LLC acquired a new stake in Oklo during the third quarter worth about $19,753,000. Portland Investment Counsel Inc. purchased a new stake in shares of Oklo during the 3rd quarter worth about $6,493,000. Readystate Asset Management LP acquired a new stake in Oklo during the 3rd quarter worth approximately $6,193,000. Geode Capital Management LLC purchased a new position in Oklo in the third quarter valued at approximately $5,971,000. Finally, State Street Corp acquired a new position in Oklo during the third quarter valued at approximately $2,889,000. Institutional investors and hedge funds 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.