Oklo (NYSE:OKLO) Trading Up 9.6% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price shot up 9.6% during trading on Wednesday . The stock traded as high as $34.80 and last traded at $34.24. 11,850,467 shares changed hands during trading, a decline of 19% from the average session volume of 14,608,462 shares. The stock had previously closed at $31.25.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on OKLO shares. Wedbush boosted their target price on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup boosted their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th.

Oklo Trading Up 8.0 %

The stock’s fifty day moving average is $23.21 and its 200 day moving average is $15.27.

Insider Transactions at Oklo

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

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. HITE Hedge Asset Management LLC bought a new stake in shares of Oklo during the third quarter worth $19,753,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo during the fourth quarter worth $19,285,000. Portland Investment Counsel Inc. acquired a new position in Oklo in the 3rd quarter worth approximately $6,493,000. Readystate Asset Management LP acquired a new stake in Oklo during the 3rd quarter worth about $6,193,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Oklo during the 3rd quarter worth approximately $5,971,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.