Oklo (NYSE:OKLO) Sees Large Volume Increase – Still a Buy?

Oklo Inc. (NYSE:OKLO) saw unusually-high trading volume on Tuesday . Approximately 3,979,311 shares were traded during mid-day trading, a decline of 37% from the previous session’s volume of 6,306,032 shares.The stock last traded at $22.05 and had previously closed at $23.65.

Wall Street Analyst Weigh In

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

Oklo Trading Down 11.2 %

The firm has a 50-day simple moving average of $21.61 and a two-hundred day simple moving average of $13.02.

Insider Buying and Selling at Oklo

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

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. DRW Securities LLC purchased a new stake in shares of Oklo during the 3rd quarter worth about $404,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Oklo during the third quarter worth approximately $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Oklo in the third quarter worth $104,000. Portland Investment Counsel Inc. purchased a new position in shares of Oklo in the 3rd quarter valued at $6,493,000. Finally, Atom Investors LP acquired a new position in shares of Oklo during the 3rd quarter valued at $657,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.