Oklo (NYSE:OKLO) Sees Large Volume Increase – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares saw unusually-strong trading volume on Tuesday . Approximately 3,979,311 shares traded hands during mid-day trading, a decline of 37% from the previous session’s volume of 6,306,032 shares.The stock last traded at $22.05 and had previously closed at $23.65.

Analyst Upgrades and Downgrades

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

Oklo Stock Performance

The stock’s 50-day moving average is $21.64 and its 200-day moving average is $13.20.

Insiders Place Their Bets

In other news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $99,750. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

A number of institutional investors have recently modified their holdings of OKLO. HITE Hedge Asset Management LLC purchased a new position in Oklo in the third quarter valued at approximately $19,753,000. Portland Investment Counsel Inc. purchased a new position in shares of Oklo in the 3rd quarter valued at $6,493,000. Readystate Asset Management LP acquired a new position in shares of Oklo during the 3rd quarter valued at $6,193,000. Geode Capital Management LLC purchased a new stake in Oklo during the 3rd quarter worth $5,971,000. Finally, State Street Corp acquired a new stake in Oklo in the 3rd quarter valued at $2,889,000. Hedge funds and other institutional investors 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.