Oklo (NYSE:OKLO) Shares Down 3.4% – What’s Next?

Oklo Inc. (NYSE:OKLO) shares traded down 3.4% during mid-day trading on Tuesday . The company traded as low as $49.68 and last traded at $50.83. 6,565,754 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 21,307,885 shares. The stock had previously closed at $52.62.

Analyst Ratings Changes

A number of analysts have commented on OKLO shares. Wedbush upped their target price on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Citigroup lifted their target price on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Finally, B. Riley upped their price target on 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Down 4.8 %

The company’s fifty day moving average price is $32.29 and its 200-day moving average price is $20.21.

Insiders Place Their Bets

In other Oklo news, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC purchased a new position in Oklo in the 3rd quarter worth $19,753,000. Vanguard Group Inc. raised its stake in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Oklo during the fourth quarter worth about $38,661,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo during the fourth quarter worth about $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Oklo in the fourth quarter valued at approximately $17,104,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.