Oklo (NYSE:OKLO) Trading Down 1.6% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s stock price fell 1.6% on Thursday . The stock traded as low as $33.00 and last traded at $34.62. 10,812,660 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 20,201,350 shares. The stock had previously closed at $35.19.

Analyst Ratings Changes

Several brokerages recently weighed in on OKLO. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. 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. B. Riley raised their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Oklo Trading Up 3.1 %

The business’s 50-day moving average price is $35.08 and its 200-day moving average price is $21.66.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.61, for a total value of $4,982,596.09. Following the transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Oklo by 1.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock valued at $104,646,000 after buying an additional 74,315 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after acquiring an additional 2,090,154 shares during the period. HITE Hedge Asset Management LLC acquired a new stake in Oklo in the third quarter valued at $19,753,000. Van ECK Associates Corp acquired a new stake in Oklo in the fourth quarter valued at $38,661,000. Finally, Atomi Financial Group Inc. acquired a new stake in Oklo in the fourth quarter valued at $19,285,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.