Oklo (NYSE:OKLO) Trading Up 1.7% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price rose 1.7% during mid-day trading on Tuesday . The company traded as high as $31.91 and last traded at $30.52. Approximately 8,368,007 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 16,699,977 shares. The stock had previously closed at $30.00.

Analyst Ratings Changes

Several brokerages have commented on OKLO. B. Riley initiated coverage on Oklo in a research note on Thursday, September 19th. They set a “buy” rating and a $10.00 target price for the company. Citigroup upped their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wedbush began coverage on shares of Oklo in a research report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price on the stock.

Oklo Stock Performance

The stock has a 50 day moving average price of $22.21 and a 200 day moving average price of $13.86.

Insiders Place Their Bets

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was purchased 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 approximately $99,750. The trade was 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 company’s stock in a transaction dated 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 owns 12,543,085 shares in the company, valued at approximately $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 Trading of Oklo

Several large investors have recently made changes to their positions in OKLO. Kozak & Associates Inc. acquired a new position in shares of Oklo during the fourth quarter valued at about $57,000. Barclays PLC bought a new position in Oklo in the 3rd quarter valued at about $58,000. Y Intercept Hong Kong Ltd acquired a new position in Oklo during the 3rd quarter valued at about $94,000. Sanctuary Advisors LLC acquired a new position in Oklo during the 3rd quarter valued at about $100,000. Finally, Peapack Gladstone Financial Corp bought a new stake in Oklo during the 3rd quarter worth approximately $100,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.