Oklo (NYSE:OKLO) Shares Down 9.1% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) traded down 9.1% on Monday . The stock traded as low as $23.49 and last traded at $23.89. 4,161,531 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 19,008,266 shares. The stock had previously closed at $26.27.

Analysts Set New Price Targets

OKLO has been the topic of several recent analyst reports. Craig Hallum began coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. Citigroup boosted their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Wedbush raised their price objective on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, B. Riley boosted their target price on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Price Performance

The stock’s fifty day moving average is $35.61 and its 200 day moving average is $22.61.

Insider Buying and Selling

In related news, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 12,543,085 shares in the company, 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 currently owned by corporate insiders.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Oklo by 1.5% during 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 purchasing an additional 74,315 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $92,216,000 after acquiring an additional 2,090,154 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in Oklo in the third quarter worth about $19,753,000. Van ECK Associates Corp bought a new position in Oklo during the 4th quarter worth about $38,661,000. Finally, Atomi Financial Group Inc. purchased a new position in Oklo during the 4th quarter valued at about $19,285,000. 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.