Oklo (NYSE:OKLO) Stock Price Up 18% on Analyst Upgrade

Oklo Inc. (NYSE:OKLO)’s stock price shot up 18% on Friday after B. Riley raised their price target on the stock from $27.00 to $58.00. B. Riley currently has a buy rating on the stock. Oklo traded as high as $59.14 and last traded at $56.36. 22,391,337 shares were traded during trading, an increase of 0% from the average session volume of 22,354,693 shares. The stock had previously closed at $47.76.

Several other research firms have also issued reports on OKLO. Wedbush increased their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Craig Hallum started coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Citigroup boosted their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now 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. 21.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Several large investors have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new stake in Oklo in the 4th quarter valued at approximately $348,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Oklo in the fourth quarter valued at $2,123,000. JW Asset Management LLC purchased a new stake in shares of Oklo in the 4th quarter valued at $318,000. Clare Market Investments LLC acquired a new position in Oklo during the 4th quarter worth about $218,000. Finally, Johnson Investment Counsel Inc. acquired a new position in Oklo during the 4th quarter worth about $228,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Trading Up 15.7 %

The company has a 50 day moving average of $27.15 and a 200-day moving average of $17.60.

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.