Oklo (NYSE:OKLO) Sees Unusually-High Trading Volume After Analyst Upgrade

Oklo Inc. (NYSE:OKLO) shares saw strong trading volume on Friday after Wedbush raised their price target on the stock from $26.00 to $45.00. Wedbush currently has an outperform rating on the stock. 12,958,366 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 16,542,627 shares.The stock last traded at $40.71 and had previously closed at $38.78.

Separately, Citigroup upped their price objective 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.

Insiders Place Their Bets

In other news, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’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 directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the company. Kozak & Associates Inc. acquired a new stake in Oklo during the 4th quarter worth approximately $57,000. Barclays PLC purchased a new stake in Oklo during the third quarter worth approximately $58,000. Spire Wealth Management acquired a new stake in shares of Oklo in the fourth quarter worth $72,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Oklo in the 3rd quarter valued at $94,000. Finally, Wolff Wiese Magana LLC acquired a new position in shares of Oklo during the 4th quarter valued at $99,000. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo Trading Up 8.0 %

The business’s 50-day moving average is $23.69 and its two-hundred day moving average is $15.51.

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.