Oklo (NYSE:OKLO) Stock Price Up 4.5% – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s stock price rose 4.5% on Thursday . The stock traded as high as $29.67 and last traded at $29.32. Approximately 5,320,949 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 11,556,203 shares. The stock had previously closed at $28.05.

Analyst Ratings Changes

OKLO has been the topic of several analyst reports. Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. B. Riley increased their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Wedbush raised their price target on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Trading Down 2.0 %

The company’s 50-day simple moving average is $35.78 and its 200-day simple moving average is $23.59.

Insider Activity

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. acquired a new stake in Oklo in the fourth quarter valued at $27,000. CoreCap Advisors LLC acquired a new stake in Oklo in the fourth quarter valued at $32,000. Sandy Spring Bank acquired a new stake in Oklo in the fourth quarter valued at $32,000. Covestor Ltd acquired a new stake in Oklo in the fourth quarter valued at $34,000. Finally, Anfield Capital Management LLC acquired a new stake in Oklo in the fourth quarter valued at $43,000. 85.03% of the stock is currently 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.