Oklo (NYSE:OKLO) Shares Gap Up – Still a Buy?

Oklo Inc. (NYSE:OKLO) gapped up prior to trading on Wednesday . The stock had previously closed at $26.02, but opened at $26.94. Oklo shares last traded at $26.41, with a volume of 1,063,614 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup increased their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. B. Riley upped their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Craig Hallum started coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Finally, Wedbush upped their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Up 2.4 %

The company has a fifty day simple moving average of $35.74 and a 200-day simple moving average of $23.56.

Insider Transactions at Oklo

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction dated 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 in the company, valued at $99,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction on 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 owns 12,543,085 shares of the company’s stock, valued at approximately $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. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently modified their holdings of OKLO. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo during the 3rd quarter worth $19,753,000. Vanguard Group Inc. boosted its holdings in Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after acquiring an additional 2,090,154 shares during the period. Van ECK Associates Corp purchased a new position in Oklo during the 4th quarter valued at about $38,661,000. Atomi Financial Group Inc. purchased a new position in Oklo during the 4th quarter valued at about $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new position in Oklo during the 4th quarter valued at about $17,104,000. 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.