Oklo (NYSE:OKLO) Stock Price Down 2.2% – Should You Sell?

Shares of Oklo Inc. (NYSE:OKLO) were down 2.2% during trading on Friday . The stock traded as low as $52.40 and last traded at $53.80. Approximately 6,990,067 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 21,519,463 shares. The stock had previously closed at $55.03.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. B. Riley lifted their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the stock 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 report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to 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 business has a 50-day moving average price of $30.39 and a two-hundred day moving average price of $19.15.

Insiders Place Their Bets

In other news, Director Richard Kinzley acquired 5,000 shares of the firm’s 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 transaction, the director now owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. 21.80% of the stock is owned by company insiders.

Institutional Trading of Oklo

A number of institutional investors have recently bought and sold shares of the business. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo during the 3rd quarter worth about $6,493,000. HITE Hedge Asset Management LLC purchased a new position in Oklo in the third quarter valued at approximately $19,753,000. Atomi Financial Group Inc. acquired a new stake in Oklo during the fourth quarter worth approximately $19,285,000. Archford Capital Strategies LLC purchased a new stake in shares of Oklo during the 4th quarter worth approximately $212,000. Finally, Barclays PLC acquired a new position in shares of Oklo in the 3rd quarter valued at $58,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.