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

Oklo Inc. (NYSE:OKLO) gapped up before the market opened on Tuesday . The stock had previously closed at $26.05, but opened at $27.62. Oklo shares last traded at $27.24, with a volume of 4,678,577 shares traded.

Wall Street Analysts Forecast Growth

OKLO has been the topic of several research analyst reports. Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Wedbush assumed coverage on shares of Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective on the stock.

Oklo Stock Up 17.8 %

The firm’s 50 day moving average is $22.52 and its two-hundred day moving average is $14.81.

Insider Activity

In other Oklo news, Director Richard Kinzley bought 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, with a total value of $99,750.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 directly owns 12,543,085 shares in the company, 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. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. HITE Hedge Asset Management LLC acquired a new position in Oklo in the 3rd quarter worth about $19,753,000. Atomi Financial Group Inc. acquired a new position in shares of Oklo during the fourth quarter worth $19,285,000. Portland Investment Counsel Inc. acquired a new stake in Oklo in the third quarter valued at $6,493,000. Readystate Asset Management LP acquired a new stake in shares of Oklo in the third quarter valued at about $6,193,000. Finally, Geode Capital Management LLC acquired a new position in shares of Oklo in the third quarter worth approximately $5,971,000. 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.