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

Oklo Inc. (NYSE:OKLO)’s share price gapped down before the market opened on Monday . The stock had previously closed at $38.79, but opened at $37.17. Oklo shares last traded at $34.61, with a volume of 5,911,098 shares traded.

Wall Street Analysts Forecast Growth

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

Oklo Trading Up 9.6 %

The stock’s fifty day simple moving average is $34.28 and its 200-day simple moving average is $21.31.

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently bought and sold shares of the business. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo during the third quarter worth approximately $19,753,000. Vanguard Group Inc. raised its position in Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after buying an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Oklo in the 4th quarter worth $38,661,000. Atomi Financial Group Inc. purchased a new stake in shares of Oklo in the fourth quarter valued at about $19,285,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Oklo during the fourth quarter worth about $17,104,000. 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.