Oklo (NYSE:OKLO) Reaches New 1-Year High – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $32.77 and last traded at $32.65, with a volume of 1276037 shares changing hands. The stock had previously closed at $31.25.

Analyst Upgrades and Downgrades

OKLO has been the topic of a number of recent research reports. Wedbush assumed 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. Citigroup upped their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th.

Oklo Trading Up 13.4 %

The company’s 50-day moving average is $22.91 and its two-hundred day moving average is $15.11.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently bought and sold shares of OKLO. Kozak & Associates Inc. bought a new stake in shares of Oklo in the 4th quarter worth about $57,000. Barclays PLC purchased a new position in shares of Oklo during the third quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Oklo during the 3rd quarter worth approximately $94,000. Wolff Wiese Magana LLC purchased a new stake in Oklo in the fourth quarter worth $99,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Oklo in the third quarter worth about $100,000. Hedge funds and other institutional investors 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.