Oklo (NYSE:OKLO) Shares Down 6.2% – Time to Sell?

Oklo Inc. (NYSE:OKLO) dropped 6.2% during trading on Tuesday . The company traded as low as $25.75 and last traded at $26.26. Approximately 4,002,512 shares were traded during trading, a decline of 65% from the average daily volume of 11,573,881 shares. The stock had previously closed at $28.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wedbush boosted their price objective on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Citigroup raised 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. B. Riley increased their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target on the stock. Two equities research 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 currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Price Performance

The business’s 50-day simple moving average is $35.78 and its 200-day simple moving average is $23.59.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Kinzley acquired 5,000 shares of Oklo 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 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 disclosure for this purchase can be found here. 21.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Oklo by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock valued at $104,646,000 after acquiring an additional 74,315 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in Oklo in the third quarter worth $19,753,000. Van ECK Associates Corp bought a new position in Oklo in the fourth quarter worth $38,661,000. Finally, Atomi Financial Group Inc. purchased a new position in Oklo during the fourth quarter valued at $19,285,000. 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.