Oklo (NYSE:OKLO) Stock Price Up 4.8% - Should You Buy?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded up 4.8% during trading on Wednesday . The stock traded as high as $53.83 and last traded at $52.49. 8,550,017 shares traded hands during trading, a decline of 61% from the average session volume of 21,997,305 shares. The stock had previously closed at $50.08.

Analysts Set New Price Targets

OKLO has been the topic of a number of research reports. Citigroup upped their price target on shares of Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a research note on Wednesday, January 8th. Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They set a "buy" rating and a $44.00 target price on the stock. B. Riley boosted their price target on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Wedbush upped their price objective on Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Oklo has a consensus rating of "Moderate Buy" and an average target price of $44.50.

Oklo Price Performance

The stock has a 50-day moving average of $31.65 and a 200 day moving average of $19.92.

Insider Buying and Selling

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 value of $4,982,596.09. Following the sale, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company's stock, valued at approximately $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently bought and sold shares of the company. HITE Hedge Asset Management LLC acquired a new position in Oklo during the 3rd quarter worth about $19,753,000. Vanguard Group Inc. increased its stake in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after buying an additional 2,090,154 shares during the period. Van ECK Associates Corp bought a new position in shares of Oklo during the fourth quarter worth about $38,661,000. Atomi Financial Group Inc. acquired a new position in shares of Oklo in the fourth quarter worth approximately $19,285,000. Finally, TimesSquare Capital Management LLC bought a new stake in Oklo in the fourth quarter valued at approximately $17,104,000. Institutional investors and hedge funds own 85.03% of the company's stock.

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.