Oklo (NYSE:OKLO) Hits New 1-Year High – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) hit a new 52-week high on Saturday . The stock traded as high as $45.23 and last traded at $41.74, with a volume of 26867045 shares traded. The stock had previously closed at $41.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OKLO shares. Wedbush upped their target price on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Citigroup upped their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Finally, Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Oklo has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Oklo Price Performance

The firm has a 50-day moving average price of $25.10 and a two-hundred day moving average price of $16.57.

Insider Activity

In other news, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, 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 document filed with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HITE Hedge Asset Management LLC acquired a new stake in shares of Oklo during the third quarter worth about $19,753,000. Van ECK Associates Corp acquired a new stake in shares of Oklo during the fourth quarter worth about $38,661,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo during the fourth quarter worth about $19,285,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo during the third quarter worth about $6,493,000. Finally, Readystate Asset Management LP acquired a new stake in shares of Oklo during the third quarter worth about $6,193,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

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.