Oklo (NYSE:OKLO) Stock Price Down 9.1% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price fell 9.1% on Monday . The company traded as low as $23.49 and last traded at $23.89. 4,161,531 shares were traded during trading, a decline of 78% from the average session volume of 19,008,266 shares. The stock had previously closed at $26.27.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Craig Hallum initiated coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. B. Riley boosted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Citigroup upped 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. Finally, Wedbush lifted their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Price Performance

The stock has a fifty day simple moving average of $35.70 and a two-hundred day simple moving average of $22.86.

Insider Buying and Selling at Oklo

In related news, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were bought 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 $99,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’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 of the company’s stock, 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. 21.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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