Oklo (NYSE:OKLO) Stock Price Up 10.4% – Time to Buy?

Oklo Inc. (NYSE:OKLO)’s stock price rose 10.4% on Tuesday . The company traded as high as $25.70 and last traded at $26.17. Approximately 5,340,095 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 18,869,430 shares. The stock had previously closed at $23.69.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OKLO shares. Craig Hallum started coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Wedbush upped 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. B. Riley raised their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Citigroup increased their price target on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Price Performance

The firm has a 50-day moving average of $35.61 and a 200-day moving average of $22.73.

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 stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Oklo by 1.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock valued at $104,646,000 after purchasing an additional 74,315 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after buying an additional 2,090,154 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo during the 3rd quarter worth approximately $19,753,000. Van ECK Associates Corp acquired a new position in shares of Oklo during the 4th quarter worth approximately $38,661,000. Finally, Atomi Financial Group Inc. purchased a new position in shares of Oklo during the 4th quarter valued at approximately $19,285,000. Institutional investors and hedge funds 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.