Oklo (NYSE:OKLO) Shares Up 17.2% – Should You Buy?

Oklo Inc. (NYSE:OKLO)’s share price shot up 17.2% during trading on Friday . The stock traded as high as $25.75 and last traded at $25.60. 9,008,050 shares were traded during mid-day trading, an increase of 11% from the average session volume of 8,094,016 shares. The stock had previously closed at $21.85.

Analyst Ratings Changes

OKLO has been the subject of several recent research reports. Citigroup dropped their target price on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. B. Riley began coverage on Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Wedbush assumed coverage on Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target for the company.

Oklo Price Performance

The business’s 50-day moving average price is $21.94 and its two-hundred day moving average price is $13.46.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction that occurred 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $99,750. The trade was 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.

Hedge Funds Weigh In On Oklo

A number of large investors have recently modified their holdings of OKLO. HITE Hedge Asset Management LLC acquired a new stake in Oklo during the 3rd quarter worth approximately $19,753,000. Portland Investment Counsel Inc. acquired a new position in Oklo during the third quarter valued at approximately $6,493,000. Readystate Asset Management LP purchased a new stake in Oklo during the third quarter worth approximately $6,193,000. Geode Capital Management LLC acquired a new stake in shares of Oklo in the third quarter worth $5,971,000. Finally, State Street Corp purchased a new position in shares of Oklo in the 3rd quarter valued at $2,889,000. 85.03% of the stock is currently owned by hedge funds and other 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.