Oklo (NYSE:OKLO) Sees Unusually-High Trading Volume After Analyst Upgrade

Oklo Inc. (NYSE:OKLO) saw unusually-high 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 mid-day 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 increased their target price 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 related news, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction 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 insiders.

Institutional Inflows and Outflows

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

Oklo Price Performance

The company’s fifty day moving average is $23.69 and its two-hundred day moving average is $15.51.

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.