Oklo (NYSE:OKLO) Stock Price Up 18% on Analyst Upgrade

Shares of Oklo Inc. (NYSE:OKLO) shot up 18% on Friday after B. Riley raised their price target on the stock from $27.00 to $58.00. B. Riley currently has a buy rating on the stock. Oklo traded as high as $59.14 and last traded at $56.36. 22,391,337 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 22,354,693 shares. The stock had previously closed at $47.76.

Several other analysts have also recently issued reports on the company. Citigroup increased their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Wedbush boosted their price objective on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Insider Activity

In related news, Director Richard Kinzley acquired 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’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 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 represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

A number of large investors have recently bought and sold shares of OKLO. DRW Securities LLC acquired a new position in Oklo in the 3rd quarter valued at about $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Oklo during the third quarter worth $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Oklo during the third quarter worth $104,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo during the third quarter worth $6,493,000. Finally, Atom Investors LP acquired a new stake in shares of Oklo during the third quarter worth $657,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Trading Up 15.7 %

The company has a fifty day moving average of $27.15 and a two-hundred day moving average of $17.60.

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.