Oklo (NYSE:OKLO) Stock Price Down 9.2% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares traded down 9.2% on Monday . The company traded as low as $34.01 and last traded at $35.21. 7,403,695 shares were traded during mid-day trading, a decline of 64% from the average session volume of 20,413,525 shares. The stock had previously closed at $38.79.

Analyst Ratings Changes

A number of analysts have weighed in on OKLO shares. B. Riley raised their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. Wedbush raised their price objective on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Citigroup boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Down 12.9 %

The business’s fifty day moving average price is $33.70 and its 200 day moving average price is $20.94.

Insider Buying and Selling at Oklo

In other news, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $99,750. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 disclosure for this sale can be found here. 21.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. acquired a new position in Oklo during the fourth quarter worth $27,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo during the 4th quarter worth $32,000. Sandy Spring Bank acquired a new position in shares of Oklo during the 4th quarter worth $32,000. Covestor Ltd purchased a new position in shares of Oklo in the 4th quarter valued at about $34,000. Finally, Anfield Capital Management LLC acquired a new position in Oklo during the fourth quarter worth about $43,000. Institutional investors and hedge funds 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.