Oklo (NYSE:OKLO) Trading Down 6.9% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares fell 6.9% during trading on Friday . The stock traded as low as $21.68 and last traded at $22.37. 6,319,978 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 6,285,671 shares. The stock had previously closed at $24.04.

Analyst Ratings Changes

Several analysts recently commented on the stock. Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a report on Friday, September 6th. Wedbush began coverage on shares of Oklo in a research report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target on the stock. B. Riley started coverage on Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th.

Oklo Stock Performance

The business has a 50-day moving average price of $21.52 and a two-hundred day moving average price of $12.88.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction that occurred on 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 directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Hedge funds have recently bought and sold shares of the company. Barclays PLC acquired a new position in shares of Oklo in the third quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Oklo during the 3rd quarter worth approximately $94,000. Peapack Gladstone Financial Corp acquired a new stake in shares of Oklo in the 3rd quarter valued at $100,000. Sanctuary Advisors LLC acquired a new position in shares of Oklo during the 3rd quarter worth $100,000. Finally, MML Investors Services LLC bought a new position in shares of Oklo in the third quarter worth about $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.