Oklo (NYSE:OKLO) Shares Down 3.6% – Time to Sell?

Oklo Inc. (NYSE:OKLO) was down 3.6% on Wednesday . The company traded as low as $29.11 and last traded at $29.80. Approximately 4,702,665 shares traded hands during trading, a decline of 76% from the average daily volume of 19,519,021 shares. The stock had previously closed at $30.92.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. B. Riley upped their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Wedbush increased their price objective on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Citigroup boosted their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Finally, Craig Hallum assumed coverage on 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Down 3.9 %

The company’s 50 day moving average price is $35.37 and its 200-day moving average price is $22.18.

Insider Buying and Selling

In related news, Director Richard Kinzley acquired 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the transaction, 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 Investors Weigh In On Oklo

Hedge funds have recently made changes to their positions in the company. Portland Investment Counsel Inc. acquired a new stake in Oklo during the 3rd quarter valued at $6,493,000. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo during the third quarter valued at $19,753,000. Atomi Financial Group Inc. acquired a new position in Oklo during the fourth quarter valued at $19,285,000. Archford Capital Strategies LLC purchased a new stake in Oklo in the 4th quarter worth about $212,000. Finally, Barclays PLC acquired a new stake in Oklo during the 3rd quarter worth about $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.