Oklo (NYSE:OKLO) Stock Price Down 3.6% – What’s Next?

Oklo Inc. (NYSE:OKLO) fell 3.6% during mid-day trading on Thursday . The stock traded as low as $23.09 and last traded at $23.29. 4,210,724 shares traded hands during trading, a decline of 70% from the average session volume of 13,838,272 shares. The stock had previously closed at $24.17.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Wedbush assumed coverage on shares of Oklo in a report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price target on the stock. Finally, B. Riley initiated coverage on Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 target price for the company.

Oklo Trading Up 1.5 %

The firm has a fifty day moving average price of $22.44 and a 200 day moving average price of $14.33.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was 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 directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the business’s stock in a transaction 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 acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. Joule Financial LLC acquired a new stake in shares of Oklo in the fourth quarter worth approximately $1,963,000. Hamilton Lane Advisors LLC acquired a new stake in Oklo during the 4th quarter worth $2,182,000. Wolff Wiese Magana LLC purchased a new position in shares of Oklo in the fourth quarter worth about $99,000. Sovereign Financial Group Inc. acquired a new stake in Oklo in the 4th quarter valued at about $461,000. Finally, West Oak Capital LLC purchased a new position in Oklo in the 4th quarter worth approximately $575,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.