Oklo (NYSE:OKLO) Trading 6.2% Higher - Time to Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price was up 6.2% during trading on Friday . The company traded as high as $43.78 and last traded at $44.51. Approximately 9,460,150 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 20,958,465 shares. The stock had previously closed at $41.91.

Wall Street Analyst Weigh In

Several research firms have recently commented on OKLO. Craig Hallum started coverage on Oklo in a report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price target for the company. Wedbush upped their price target on Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Finally, Citigroup boosted their target price on Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $32.50.

Oklo Stock Performance

The stock's 50 day moving average price is $25.10 and its two-hundred day moving average price is $16.62.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the transaction, the chief executive officer now owns 12,543,085 shares of the company's stock, valued at $271,056,066.85. This represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard Kinzley acquired 5,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company's stock, valued at approximately $99,750. The trade was a ∞ increase in their ownership of the stock. 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

Several large investors have recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo during the 3rd quarter valued at about $19,753,000. Van ECK Associates Corp purchased a new stake in Oklo in the fourth quarter valued at approximately $38,661,000. Atomi Financial Group Inc. acquired a new position in Oklo during the fourth quarter worth approximately $19,285,000. TimesSquare Capital Management LLC purchased a new position in Oklo during the fourth quarter worth approximately $17,104,000. Finally, Portland Investment Counsel Inc. acquired a new position in shares of Oklo in the 3rd quarter valued at $6,493,000. 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.