Oklo (NYSE:OKLO) Shares Up 14.4% – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) shot up 14.4% on Tuesday . The company traded as high as $29.78 and last traded at $29.79. 8,760,173 shares were traded during trading, a decline of 36% from the average session volume of 13,701,385 shares. The stock had previously closed at $26.05.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OKLO shares. Citigroup increased their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Wedbush initiated coverage on shares of Oklo in a report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price objective for the company.

Oklo Stock Up 17.9 %

The company has a 50 day moving average price of $22.52 and a 200 day moving average price of $14.81.

Insider Activity at Oklo

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred on 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 21.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Kozak & Associates Inc. purchased a new position in shares of Oklo in the 4th quarter valued at about $57,000. Barclays PLC purchased a new position in Oklo in the third quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd acquired a new stake in Oklo during the third quarter worth approximately $94,000. Wolff Wiese Magana LLC purchased a new stake in shares of Oklo during the 4th quarter worth approximately $99,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Oklo in the 3rd quarter valued at $100,000. Hedge funds and other institutional investors 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.