Oklo (NYSE:OKLO) Shares Gap Down – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $50.08, but opened at $47.78. Oklo shares last traded at $53.21, with a volume of 4,515,117 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wedbush lifted their price target on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. 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 on the stock. Finally, Citigroup upped their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Performance

The stock has a 50 day simple moving average of $29.01 and a two-hundred day simple moving average of $18.65.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Kinzley bought 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $99,750. This represents 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 corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Sandy Spring Bank acquired a new stake in shares of Oklo during the fourth quarter valued at about $32,000. Anfield Capital Management LLC acquired a new position in shares of Oklo in the fourth quarter worth $43,000. AlphaQuest LLC purchased a new stake in shares of Oklo during the fourth quarter worth $45,000. Kozak & Associates Inc. acquired a new stake in shares of Oklo in the fourth quarter valued at $57,000. Finally, Spire Wealth Management acquired a new stake in shares of Oklo in the fourth quarter valued at $72,000. 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.