Oklo (NYSE:OKLO) Trading Down 0.6% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price fell 0.6% during mid-day trading on Monday . The stock traded as low as $53.65 and last traded at $55.14. 9,135,725 shares were traded during trading, a decline of 59% from the average session volume of 22,509,910 shares. The stock had previously closed at $55.49.

Analysts Set New Price Targets

OKLO has been the topic of a number of research analyst reports. 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. B. Riley increased their price objective on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Wedbush lifted their target price on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, 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 target for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Trading Up 8.7 %

The company has a fifty day moving average of $29.01 and a two-hundred day moving average of $18.65.

Insider Transactions at Oklo

In other news, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction that occurred 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 acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’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 sale, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently modified their holdings of the company. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo in the third quarter worth approximately $6,493,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo during the 3rd quarter valued at $19,753,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo during the 4th quarter worth $19,285,000. Archford Capital Strategies LLC purchased a new position in shares of Oklo in the 4th quarter worth $212,000. Finally, Barclays PLC acquired a new position in Oklo in the third quarter valued at $58,000. 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.