Oklo (NYSE:OKLO) Trading Up 11.5% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price traded up 11.5% on Monday . The stock traded as high as $30.92 and last traded at $30.38. 13,287,436 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 14,408,376 shares. The stock had previously closed at $27.25.

Wall Street Analyst Weigh In

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

Oklo Price Performance

The firm has a 50-day moving average of $21.94 and a 200-day moving average of $13.49.

Insider Activity

In other Oklo 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 value of $4,982,596.09. Following the transaction, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following 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 position. 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 made changes to their positions in the stock. Portland Investment Counsel Inc. bought a new stake in Oklo during the 3rd quarter worth approximately $6,493,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo in the third quarter worth $19,753,000. State Street Corp bought a new stake in shares of Oklo during the 3rd quarter valued at $2,889,000. DRW Securities LLC purchased a new position in shares of Oklo during the 3rd quarter valued at $404,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Oklo in the 3rd quarter worth $104,000. 85.03% of the stock is 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.