Oklo (NYSE:OKLO) Stock Price Up 7.2% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) traded up 7.2% on Wednesday . The company traded as high as $24.00 and last traded at $23.61. 11,124,300 shares changed hands during trading, an increase of 78% from the average session volume of 6,264,099 shares. The stock had previously closed at $22.02.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OKLO. Wedbush began coverage on shares of Oklo in a report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target on the stock. B. Riley assumed coverage on shares of Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price on the stock. Seaport Res Ptn upgraded Oklo to a “hold” rating in a research note on Friday, September 6th. Finally, Citigroup cut their price objective on 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 stock’s fifty day simple moving average is $21.21 and its two-hundred day simple moving average is $12.73.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’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 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 trade represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in shares of Oklo during the third quarter valued at $58,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Oklo in the 3rd quarter worth about $94,000. Peapack Gladstone Financial Corp bought a new stake in Oklo in the 3rd quarter valued at about $100,000. Sanctuary Advisors LLC acquired a new position in Oklo during the 3rd quarter valued at about $100,000. Finally, MML Investors Services LLC bought a new position in Oklo in the 3rd quarter worth about $104,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.