Oklo (NYSE:OKLO) Shares Up 11.5% – Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO) shot up 11.5% during mid-day trading on Monday . The company traded as high as $30.92 and last traded at $30.38. 13,287,436 shares were traded during trading, a decline of 8% from the average session volume of 14,408,376 shares. The stock had previously closed at $27.25.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in 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 objective on the stock. Wedbush initiated coverage on Oklo in a research report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Citigroup boosted their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday.

Oklo Price Performance

The company’s 50-day moving average price is $22.14 and its 200 day moving average price is $13.78.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo during the third quarter worth approximately $19,753,000. Portland Investment Counsel Inc. purchased a new position in Oklo in the 3rd quarter valued at approximately $6,493,000. Readystate Asset Management LP purchased a new stake in shares of Oklo during the 3rd quarter worth $6,193,000. Geode Capital Management LLC acquired a new position in shares of Oklo in the 3rd quarter valued at $5,971,000. Finally, State Street Corp acquired a new position in Oklo during the third quarter worth approximately $2,889,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.