Oklo (NYSE:OKLO) Shares Down 3.8% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price was down 3.8% on Thursday . The company traded as low as $46.53 and last traded at $48.60. Approximately 11,730,249 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 22,100,115 shares. The stock had previously closed at $50.50.

Wall Street Analyst Weigh In

Several research firms have issued reports on OKLO. Craig Hallum initiated coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Wedbush increased their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Citigroup upped their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Finally, B. Riley lifted their price target on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Oklo has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Up 15.7 %

The business has a fifty day moving average price of $27.78 and a two-hundred day moving average price of $17.92.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently made changes to their positions in the company. Anfield Capital Management LLC acquired a new stake in Oklo during the 4th quarter valued at $43,000. AlphaQuest LLC acquired a new position in Oklo during the 4th quarter valued at about $45,000. Kozak & Associates Inc. acquired a new position in Oklo in the fourth quarter valued at approximately $57,000. Spire Wealth Management acquired a new position in shares of Oklo in the 4th quarter valued at $72,000. Finally, Wolff Wiese Magana LLC bought a new position in Oklo during the fourth quarter worth about $99,000. Institutional investors and hedge funds 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.