Oklo (NYSE:OKLO) Trading Down 3.5% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) fell 3.5% on Thursday . The stock traded as low as $51.53 and last traded at $52.48. 5,299,392 shares traded hands during trading, a decline of 76% from the average session volume of 21,791,596 shares. The stock had previously closed at $54.38.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OKLO. Citigroup raised their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Craig Hallum began coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective on the stock. Wedbush boosted their price target on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, B. Riley boosted their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Price Performance

The stock’s 50 day simple moving average is $31.00 and its 200-day simple moving average is $19.46.

Insider Transactions at Oklo

In related 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 transaction, the chief executive officer now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley bought 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now directly 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 owned by corporate insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently added to or reduced their stakes in OKLO. TD Waterhouse Canada Inc. bought a new position in Oklo during the fourth quarter worth $27,000. Sandy Spring Bank acquired a new position in Oklo in the fourth quarter valued at about $32,000. Covestor Ltd acquired a new position in Oklo during the fourth quarter worth about $34,000. Anfield Capital Management LLC acquired a new position in Oklo during the fourth quarter worth about $43,000. Finally, AlphaQuest LLC acquired a new position in shares of Oklo in the fourth quarter valued at approximately $45,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.