Oklo (NYSE:OKLO) Trading Down 9.2% – Should You Sell?

Oklo Inc. (NYSE:OKLO) dropped 9.2% during trading on Monday . The company traded as low as $34.01 and last traded at $35.21. Approximately 7,403,695 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 20,413,525 shares. The stock had previously closed at $38.79.

Analyst Ratings Changes

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

Oklo Price Performance

The company’s 50-day moving average price is $34.28 and its 200-day moving average price is $21.31.

Insider Activity

In other news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new stake in Oklo during the 4th quarter valued at $27,000. Sandy Spring Bank purchased a new position in shares of Oklo in the 4th quarter worth $32,000. CoreCap Advisors LLC purchased a new position in shares of Oklo in the 4th quarter worth $32,000. Covestor Ltd purchased a new position in shares of Oklo in the 4th quarter worth $34,000. Finally, Anfield Capital Management LLC purchased a new position in Oklo in the fourth quarter valued at about $43,000. 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.