Oklo (NYSE:OKLO) Stock Price Up 7.9% on Analyst Upgrade

Oklo Inc. (NYSE:OKLO)’s stock price was up 7.9% during trading 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. Oklo traded as high as $42.60 and last traded at $41.86. Approximately 15,982,820 shares were traded during trading, a decline of 4% from the average daily volume of 16,681,271 shares. The stock had previously closed at $38.78.

Separately, 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.

Insider Buying and Selling

In other news, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average price 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 $99,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This 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 company insiders.

Institutional Trading of Oklo

Large investors have recently made changes to their positions in the business. Kozak & Associates Inc. acquired a new position in Oklo during the fourth quarter valued at $57,000. Spire Wealth Management purchased a new position in shares of Oklo during the 4th quarter valued at about $72,000. Wolff Wiese Magana LLC acquired a new position in shares of Oklo in the 4th quarter valued at about $99,000. Barclays PLC purchased a new stake in shares of Oklo in the third quarter worth about $58,000. Finally, Foster Victor Wealth Advisors LLC purchased a new position in Oklo during the fourth quarter valued at approximately $177,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Price Performance

The stock has a fifty day simple moving average of $23.69 and a 200-day simple moving average of $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.