Oklo (NYSE:OKLO) Sets New 12-Month High – Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO) hit a new 52-week high during trading on Monday . The stock traded as high as $28.89 and last traded at $28.42, with a volume of 4457874 shares changing hands. The stock had previously closed at $27.25.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wedbush initiated coverage on shares of Oklo in a report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target for the company. Citigroup lowered their target price on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Finally, B. Riley initiated coverage on shares of Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 price target on the stock.

Oklo Trading Up 15.9 %

The firm’s 50-day moving average price is $21.94 and its 200 day moving average price is $13.49.

Insider Buying and Selling at Oklo

In other news, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the business’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 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 position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Peapack Gladstone Financial Corp bought a new stake in shares of Oklo during the third quarter worth about $100,000. Sanctuary Advisors LLC bought a new stake in Oklo during the 3rd quarter worth approximately $100,000. Barclays PLC purchased a new stake in shares of Oklo in the third quarter worth approximately $58,000. Geode Capital Management LLC purchased a new stake in shares of Oklo in the third quarter worth approximately $5,971,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Oklo in the third quarter valued at approximately $94,000. 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.