Oklo (NYSE:OKLO) Trading Up 1.7% – Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO) were up 1.7% during trading on Tuesday . The company traded as high as $31.91 and last traded at $30.52. Approximately 8,368,007 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 16,699,977 shares. The stock had previously closed at $30.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on OKLO shares. B. Riley began 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. Citigroup upped their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wedbush initiated coverage on Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target for the company.

Oklo Stock Performance

The firm’s 50 day moving average price is $22.21 and its two-hundred day moving average price is $13.86.

Insiders Place Their Bets

In other news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction on Friday, December 20th. The shares were 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 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 disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OKLO. Kozak & Associates Inc. bought a new position in Oklo in the 4th quarter valued at about $57,000. Barclays PLC acquired a new stake in shares of Oklo during the 3rd quarter worth approximately $58,000. Y Intercept Hong Kong Ltd bought a new position in Oklo in the third quarter valued at approximately $94,000. Sanctuary Advisors LLC acquired a new position in Oklo during the third quarter valued at approximately $100,000. Finally, Peapack Gladstone Financial Corp bought a new stake in Oklo during the third quarter worth $100,000. Institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

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.