Oklo (NYSE:OKLO) Trading Up 4.9% – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares were up 4.9% on Thursday . The stock traded as high as $24.90 and last traded at $24.76. Approximately 5,697,767 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 6,255,627 shares. The stock had previously closed at $23.61.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wedbush began coverage on shares of Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target on the stock. Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a research report on Friday, September 6th. B. Riley assumed coverage on Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Citigroup decreased their price objective on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th.

Oklo Stock Down 5.2 %

The company’s 50 day moving average price is $21.61 and its two-hundred day moving average price is $12.98.

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the business. Peapack Gladstone Financial Corp purchased a new stake in shares of Oklo during the 3rd quarter worth $100,000. Sanctuary Advisors LLC purchased a new stake in shares of Oklo during the third quarter valued at about $100,000. Barclays PLC purchased a new stake in shares of Oklo during the third quarter valued at about $58,000. Geode Capital Management LLC bought a new stake in shares of Oklo in the 3rd quarter valued at about $5,971,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Oklo in the 3rd quarter worth approximately $94,000. 85.03% of the stock is currently owned by institutional investors.

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.