Oklo (NYSE:OKLO) Trading 4.9% Higher – Should You Buy?

Oklo Inc. (NYSE:OKLO)’s stock price rose 4.9% during trading on Thursday . The company traded as high as $24.90 and last traded at $24.76. Approximately 5,697,767 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 6,255,627 shares. The stock had previously closed at $23.61.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research report on Friday, September 6th. Wedbush initiated coverage on Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price objective for the company. B. Riley initiated coverage on shares of Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Citigroup dropped their price target on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th.

Oklo Price Performance

The firm has a 50-day moving average price of $21.35 and a 200-day moving average price of $12.80.

Insider Transactions at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the firm’s 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 sale, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Peapack Gladstone Financial Corp bought a new stake in Oklo in the third quarter worth $100,000. Sanctuary Advisors LLC purchased a new position in Oklo during the 3rd quarter worth $100,000. Barclays PLC purchased a new stake in Oklo during the 3rd quarter worth approximately $58,000. Geode Capital Management LLC acquired a new stake in Oklo during the 3rd quarter worth about $5,971,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Oklo during the 3rd quarter worth approximately $94,000. 85.03% of the stock is currently owned by 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.