Oklo (NYSE:OKLO) Stock Price Down 7.7% on Insider Selling

Oklo Inc. (NYSE:OKLO) dropped 7.7% on Monday following insider selling activity. The company traded as low as $19.41 and last traded at $19.87. Approximately 6,770,159 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 6,199,825 shares. The stock had previously closed at $21.52.

Specifically, CEO Jacob Dewitte sold 230,569 shares of the 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 transaction, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a research note on Friday, September 6th. Wedbush began coverage on Oklo in a research report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price on the stock. B. Riley initiated coverage on Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Citigroup lowered their price objective on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th.

Oklo Trading Up 7.2 %

The company’s fifty day moving average price is $21.21 and its 200 day moving average price is $12.73.

Institutional Investors Weigh In On Oklo

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in Oklo in the 3rd quarter valued at $58,000. Y Intercept Hong Kong Ltd bought a new position in shares of Oklo in the third quarter worth $94,000. Peapack Gladstone Financial Corp acquired a new position in Oklo in the third quarter valued at about $100,000. Sanctuary Advisors LLC bought a new stake in Oklo during the third quarter worth about $100,000. Finally, MML Investors Services LLC acquired a new stake in Oklo during the third quarter worth about $104,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.