Oklo (NYSE:OKLO) Trading Down 10.9% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) dropped 10.9% during trading on Thursday . The stock traded as low as $24.77 and last traded at $26.28. Approximately 15,761,227 shares changed hands during trading, a decline of 14% from the average daily volume of 18,277,848 shares. The stock had previously closed at $29.50.

Analyst Ratings Changes

A number of research analysts recently weighed in on OKLO shares. Wedbush started coverage on shares of Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price on the stock. Citigroup boosted their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, B. Riley began coverage on Oklo in a research note on Thursday, September 19th. They set a “buy” rating and a $10.00 target price on the stock.

Oklo Stock Performance

The company’s 50 day moving average is $22.21 and its two-hundred day moving average is $13.86.

Insider Activity

In related news, Director Richard Kinzley bought 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was 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 $99,750. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction 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 owns 12,543,085 shares in the company, valued at $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Kozak & Associates Inc. purchased a new stake in shares of Oklo in the fourth quarter worth approximately $57,000. Silverleafe Capital Partners LLC purchased a new stake in Oklo in the fourth quarter worth $572,000. Peapack Gladstone Financial Corp bought a new stake in shares of Oklo during the third quarter worth $100,000. Sanctuary Advisors LLC purchased a new stake in shares of Oklo during the third quarter valued at $100,000. Finally, Barclays PLC bought a new position in shares of Oklo in the third quarter worth about $58,000. 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.