Oklo (NYSE:OKLO) Shares Gap Down – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) gapped down prior to trading on Thursday . The stock had previously closed at $34.17, but opened at $32.14. Oklo shares last traded at $35.89, with a volume of 5,310,622 shares.

Analyst Ratings Changes

Several analysts have commented on OKLO shares. Citigroup boosted their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Wedbush started coverage on shares of Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price objective for the company.

Oklo Stock Up 14.6 %

The business’s 50 day moving average price is $22.91 and its 200-day moving average price is $15.11.

Insider Activity

In other news, Director Richard Kinzley bought 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 acquisition, the director now owns 5,000 shares in the company, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the 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 in the company, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Hedge funds have recently added to or reduced their stakes in the stock. Kozak & Associates Inc. acquired a new position in Oklo during the 4th quarter valued at about $57,000. Wolff Wiese Magana LLC acquired a new position in Oklo during the 4th quarter valued at about $99,000. Barclays PLC acquired a new position in Oklo during the 3rd quarter valued at about $58,000. Foster Victor Wealth Advisors LLC acquired a new position in Oklo during the 4th quarter valued at about $177,000. Finally, Archford Capital Strategies LLC acquired a new position in Oklo during the 4th quarter valued at about $212,000. Institutional investors own 85.03% of the company’s stock.

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.