Oklo (NYSE:OKLO) Trading 18% Higher After Analyst Upgrade

Oklo Inc. (NYSE:OKLO)’s share price rose 18% during mid-day trading on Friday after B. Riley raised their price target on the stock from $27.00 to $58.00. B. Riley currently has a buy rating on the stock. Oklo traded as high as $59.14 and last traded at $56.36. Approximately 22,391,337 shares changed hands during mid-day trading, an increase of 0% from the average daily volume of 22,354,693 shares. The stock had previously closed at $47.76.

OKLO has been the subject of a number of other reports. Citigroup raised their target price on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price for the company. Finally, Wedbush lifted their target price on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Insider Activity

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several large investors have recently modified their holdings of OKLO. Anfield Capital Management LLC bought a new stake in shares of Oklo in the 4th quarter valued at $43,000. Kozak & Associates Inc. bought a new position in shares of Oklo during the fourth quarter worth approximately $57,000. Spire Wealth Management bought a new position in Oklo in the fourth quarter valued at approximately $72,000. Wolff Wiese Magana LLC bought a new stake in shares of Oklo during the fourth quarter worth $99,000. Finally, Stephens Consulting LLC bought a new stake in shares of Oklo during the fourth quarter worth about $127,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Stock Performance

The company’s 50 day moving average price is $27.15 and its 200-day moving average price is $17.60.

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.