Oklo (NYSE:OKLO) Trading Down 13.7% – Should You Sell?

Oklo Inc. (NYSE:OKLO) traded down 13.7% during mid-day trading on Wednesday . The stock traded as low as $25.38 and last traded at $25.45. 8,011,606 shares were traded during trading, a decline of 52% from the average session volume of 16,524,605 shares. The stock had previously closed at $29.50.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OKLO. Citigroup boosted their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday. Wedbush assumed coverage on shares of Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target on the stock. Finally, B. Riley initiated coverage on shares of Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective on the stock.

Oklo Stock Performance

The firm’s 50 day moving average is $22.36 and its 200 day moving average is $14.06.

Insider Buying and Selling

In related news, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was 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 in the company, valued at approximately $99,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This trade 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 insiders.

Institutional Trading of Oklo

A number of large investors have recently made changes to their positions in OKLO. Portland Investment Counsel Inc. purchased a new position in Oklo in the third quarter worth $6,493,000. HITE Hedge Asset Management LLC acquired a new stake in shares of Oklo during the 3rd quarter worth approximately $19,753,000. State Street Corp purchased a new stake in Oklo during the third quarter worth $2,889,000. DRW Securities LLC purchased a new position in shares of Oklo in the 3rd quarter valued at about $404,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Oklo in the third quarter valued at approximately $104,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.