Oklo (NYSE:OKLO) Trading 17.2% Higher – Should You Buy?

Oklo Inc. (NYSE:OKLO)’s stock price shot up 17.2% during trading on Friday . The stock traded as high as $25.75 and last traded at $25.60. 9,008,050 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 8,094,016 shares. The stock had previously closed at $21.85.

Analysts Set New Price Targets

A number of brokerages have issued reports on OKLO. Wedbush assumed coverage on Oklo in a report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target for the company. B. Riley began coverage on Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Citigroup dropped 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 24.7 %

The stock has a 50-day moving average price of $21.94 and a 200 day moving average price of $13.46.

Insider Buying and Selling

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This represents 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 currently owned by company insiders.

Hedge Funds Weigh In On Oklo

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