Oklo (NYSE:OKLO) Shares Up 4.8% - What's Next?

Oklo Inc. (NYSE:OKLO) saw its stock price increase by 4.8% during trading on Wednesday. The shares peaked at $53.83 and were last traded at $52.49. A total of 8,550,017 shares were exchanged during mid-day trading, which is a significant drop of 61% from the average session volume of 21,997,305 shares. Previously, the stock closed at $50.08.

Recent Analyst Ratings

Recently, various brokerages have assessed Oklo’s stock. B. Riley raised their target price from $27.00 to $58.00 and assigned a "buy" rating in their research note dated February 6th. Additionally, Wedbush increased their price target from $26.00 to $45.00, rating Oklo as "outperform" on January 24th. Citigroup also raised their target price from $10.00 to $31.00, providing a "neutral" rating. Furthermore, Craig Hallum initiated coverage on Oklo with a buy rating and a target price of $44.00 as of January 28th. Currently, two investment analysts have rated the stock with a hold rating, while three have given it a buy rating. Based on data from MarketBeat, Oklo has a consensus rating of "Moderate Buy" and an average price target of $44.50.

Oklo Stock Performance

The stock's 50-day moving average stands at $30.39 while the 200-day moving average is at $19.15.

Insider Activity Highlights

In terms of insider activities, CEO Jacob Dewitte sold 230,569 shares on December 20th at an average price of $21.61, totaling approximately $4.98 million. Following this sale, he continues to own 12,543,085 shares valued at about $271.06 million, representing a 1.81% decrease in his ownership. This transaction has been disclosed to the SEC. Meanwhile, Director Richard Kinzley purchased 5,000 shares on December 23rd for an average of $19.95 per share, amounting to a total value of $99,750. With this acquisition, Kinzley now owns shares valued at around $99,750. Currently, insiders own about 21.80% of the company's stock.

Institutional Investor Participation

A number of institutional investors have recently adjusted their positions in Oklo. In the third quarter, HITE Hedge Asset Management LLC purchased a new position valued at about $19.75 million. Vanguard Group Inc. increased its holdings in Oklo by 92.8% in the fourth quarter, now owning 4,343,679 shares worth approximately $92.22 million after acquiring an additional 2,090,154 shares. Van ECK Associates Corp also entered a new position in the firm during the fourth quarter, valued at $38.66 million. Atomi Financial Group Inc. and TimesSquare Capital Management LLC also bought new stakes in Oklo during the same period, valued at $19.29 million and about $17.10 million, respectively. Overall, institutional investors hold around 85.03% of the company's stock.

Company Overview

Oklo Inc. specializes in designing and developing fission power plants to deliver reliable, commercial-scale energy solutions to clients in the United States. Additionally, the company offers recycling services for used nuclear fuel. Founded in 2013, Oklo operates out of Santa Clara, California.

Further Insights

Investors are keen to explore stocks, especially in the nuclear energy sector. This article aims to provide a deeper understanding of the current trading trends and insights into Oklo’s stock performance.

Oklo, Stocks, Trading