Oklo (NYSE:OKLO) Sees Strong Trading Volume Following Analyst Upgrade

Oklo Inc. (NYSE:OKLO) saw unusually-strong trading volume on Friday after Wedbush raised their price target on the stock from $26.00 to $45.00. Wedbush currently has an outperform rating on the stock. Approximately 12,958,366 shares changed hands during trading, a decline of 22% from the previous session’s volume of 16,542,627 shares.The stock last traded at $40.71 and had previously closed at $38.78.

Separately, Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th.

Insider Buying and Selling at Oklo

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the company’s 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 completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 completion of the sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, 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. 21.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

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

Oklo Stock Performance

The company has a 50-day moving average of $23.69 and a 200 day moving average of $15.51.

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.