Oklo (NYSE:OKLO) Trading Down 4.5% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price was down 4.5% during trading on Monday . The stock traded as low as $51.70 and last traded at $52.56. Approximately 14,199,443 shares were traded during trading, a decline of 37% from the average daily volume of 22,392,098 shares. The stock had previously closed at $55.03.

Analysts Set New Price Targets

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

Oklo Trading Down 9.8 %

The business has a 50 day simple moving average of $32.29 and a two-hundred day simple moving average of $20.21.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. DRW Securities LLC acquired a new position in Oklo during the 3rd quarter valued at approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Oklo during the 3rd quarter valued at approximately $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Oklo during the 3rd quarter valued at approximately $104,000. Portland Investment Counsel Inc. acquired a new position in Oklo during the 3rd quarter valued at approximately $6,493,000. Finally, Atom Investors LP acquired a new position in Oklo during the 3rd quarter valued at approximately $657,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Oklo

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.