Oklo (NYSE:OKLO) Shares Gap Down – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares gapped down prior to trading on Thursday . The stock had previously closed at $34.17, but opened at $32.14. Oklo shares last traded at $35.89, with a volume of 5,310,622 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OKLO. Wedbush increased their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday. 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.

Oklo Stock Up 8.0 %

The stock has a 50 day moving average price of $23.69 and a two-hundred day moving average price of $15.51.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated 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 directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Hedge funds have recently added to or reduced their stakes in the stock. WJ Wealth Management LLC acquired a new position in shares of Oklo in the 4th quarter valued at approximately $457,000. Vantage Point Financial LLC acquired a new position in shares of Oklo in the fourth quarter valued at approximately $208,000. Spire Wealth Management bought a new stake in shares of Oklo during the fourth quarter worth $72,000. Caprock Group LLC acquired a new stake in shares of Oklo during the fourth quarter worth $2,819,000. Finally, Strategic Planning Group LLC bought a new stake in Oklo in the 4th quarter valued at $3,085,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.