Oklo (NYSE:OKLO) Trading Down 1.7% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s stock price traded down 1.7% on Tuesday . The stock traded as low as $30.00 and last traded at $30.58. 13,611,328 shares traded hands during trading, a decline of 30% from the average session volume of 19,364,342 shares. The stock had previously closed at $31.11.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of research reports. Wedbush boosted their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Craig Hallum started coverage on Oklo in a research report on Tuesday. They set a “buy” rating and a $44.00 price objective for the company. Finally, Citigroup lifted 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Oklo Stock Up 18.9 %

The stock has a fifty day moving average price of $24.43 and a 200-day moving average price of $16.10.

Insiders Place Their Bets

In related news, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction 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 sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Institutional investors have recently made changes to their positions in the company. DRW Securities LLC bought a new position in Oklo during the third quarter valued at approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Oklo during the 3rd quarter worth $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Oklo during the 3rd quarter valued at $104,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo in the 3rd quarter valued at $6,493,000. Finally, Atom Investors LP acquired a new position in Oklo during the third quarter worth $657,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.