Oklo (NYSE:OKLO) Shares Up 7.9% Following Analyst Upgrade

Shares of Oklo Inc. (NYSE:OKLOGet Free Report) rose 7.9% during trading 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. Oklo traded as high as $42.60 and last traded at $41.86. Approximately 15,982,820 shares traded hands during trading, a decline of 4% from the average daily volume of 16,681,271 shares. The stock had previously closed at $38.78.

Separately, Citigroup raised their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th.

View Our Latest Analysis on OKLO

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 230,569 shares of the business’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 transaction 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. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds have recently modified their holdings of OKLO. Portland Investment Counsel Inc. acquired a new position in Oklo during the third quarter valued at $6,493,000. HITE Hedge Asset Management LLC purchased a new position in Oklo during the 3rd quarter valued at about $19,753,000. Atomi Financial Group Inc. acquired a new position in shares of Oklo in the 4th quarter valued at about $19,285,000. State Street Corp purchased a new stake in shares of Oklo in the third quarter worth approximately $2,889,000. Finally, Joule Financial LLC acquired a new stake in shares of Oklo during the fourth quarter worth approximately $1,963,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Trading Up 8.0 %

The stock’s 50-day moving average is $23.69 and its 200 day moving average is $15.51.

Oklo Company Profile

(Get Free Report)

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.

Further Reading

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