Oklo (NYSE:OKLO) Stock Price Up 7.2% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) traded up 7.2% during mid-day trading on Wednesday . The company traded as high as $24.00 and last traded at $23.61. 11,124,300 shares changed hands during trading, an increase of 78% from the average session volume of 6,264,099 shares. The stock had previously closed at $22.02.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OKLO shares. Wedbush assumed coverage on Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target for the company. B. Riley assumed coverage on shares of Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 target price for the company. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research report on Friday, September 6th. Finally, Citigroup dropped their price objective on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th.

Oklo Stock Up 7.2 %

The business has a 50 day moving average price of $21.21 and a 200-day moving average price of $12.73.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Large investors have recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in Oklo in the 3rd quarter worth $58,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Oklo during the third quarter worth about $94,000. Peapack Gladstone Financial Corp acquired a new position in shares of Oklo in the third quarter worth about $100,000. Sanctuary Advisors LLC purchased a new position in Oklo in the third quarter valued at about $100,000. Finally, MML Investors Services LLC acquired a new stake in Oklo during the 3rd quarter valued at approximately $104,000. 85.03% of the stock is 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.