Oklo (NYSE:OKLO) Trading Down 6.7% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price fell 6.7% on Friday . The company traded as low as $39.43 and last traded at $39.79. 4,757,612 shares were traded during mid-day trading, a decline of 77% from the average session volume of 20,512,799 shares. The stock had previously closed at $42.66.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OKLO. Wedbush increased their price objective on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Citigroup increased their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. Finally, B. Riley increased their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Trading Down 9.1 %

The company’s fifty day simple moving average is $33.70 and its 200-day simple moving average is $20.85.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now 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. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company’s stock valued at $163,000 after purchasing an additional 416 shares in the last quarter. Ancora Advisors LLC lifted its stake in shares of Oklo by 18.2% in the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock worth $98,000 after buying an additional 710 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new position in shares of Oklo in the fourth quarter worth about $27,000. CoreCap Advisors LLC purchased a new position in shares of Oklo in the fourth quarter worth about $32,000. Finally, Sandy Spring Bank purchased a new position in shares of Oklo in the fourth quarter worth about $32,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.