Oklo (NYSE:OKLO) Shares Down 0% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) were down 0% on Tuesday . The stock traded as low as $43.76 and last traded at $45.91. Approximately 11,672,160 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 21,890,701 shares. The stock had previously closed at $45.93.

Analyst Upgrades and Downgrades

OKLO has been the topic of several analyst reports. Citigroup lifted their price target 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. Wedbush lifted their target price on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Oklo has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Oklo Trading Down 5.5 %

The company’s fifty day simple moving average is $26.63 and its two-hundred day simple moving average is $17.39.

Insider Buying and Selling

In related news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost 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 of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’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 value 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. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of the company. HITE Hedge Asset Management LLC bought a new stake in Oklo in the 3rd quarter valued at about $19,753,000. Van ECK Associates Corp acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $38,661,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo during the fourth quarter valued at approximately $19,285,000. TimesSquare Capital Management LLC acquired a new position in shares of Oklo during the fourth quarter worth approximately $17,104,000. Finally, Portland Investment Counsel Inc. bought a new position in Oklo in the 3rd quarter worth approximately $6,493,000. 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.