Oklo (NYSE:OKLO) Shares Gap Down – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $26.27, but opened at $24.88. Oklo shares last traded at $23.67, with a volume of 2,503,336 shares trading hands.

Analysts Set New Price Targets

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

Oklo Trading Down 10.0 %

The business’s 50 day moving average price is $35.61 and its 200-day moving average price is $22.61.

Insider Activity

In related news, CEO Jacob Dewitte sold 230,569 shares of the company’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 sale, the chief executive officer now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Windmill Hill Asset Management Ltd purchased a new position in Oklo in the 4th quarter valued at about $1,476,000. Polar Asset Management Partners Inc. purchased a new position in shares of Oklo during the fourth quarter valued at approximately $781,000. Alpine Global Management LLC acquired a new stake in Oklo during the fourth quarter worth approximately $427,000. Value Aligned Research Advisors LLC purchased a new stake in Oklo in the 4th quarter worth approximately $1,209,000. Finally, Gordian Capital Singapore Pte Ltd raised its holdings in Oklo by 1,058.3% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 6,000 shares of the company’s stock valued at $127,000 after acquiring an additional 5,482 shares during the last quarter. Hedge funds and other institutional investors 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.