Oklo (NYSE:OKLO) Stock Price Down 8.1% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price fell 8.1% during mid-day trading on Wednesday . The company traded as low as $45.40 and last traded at $46.12. 6,523,356 shares traded hands during trading, a decline of 69% from the average session volume of 21,009,426 shares. The stock had previously closed at $50.19.

Analyst Ratings Changes

Several research analysts recently issued reports on OKLO shares. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target 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. Wedbush lifted their price target on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, B. Riley increased their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Oklo has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Price Performance

The stock’s fifty day simple moving average is $32.29 and its 200-day simple moving average is $20.21.

Insider Activity at Oklo

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were 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 $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo in the fourth quarter worth $27,000. CoreCap Advisors LLC purchased a new stake in Oklo during the 4th quarter worth about $32,000. Sandy Spring Bank purchased a new stake in Oklo during the 4th quarter worth about $32,000. Covestor Ltd acquired a new position in Oklo in the 4th quarter valued at about $34,000. Finally, Anfield Capital Management LLC purchased a new position in Oklo in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors 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.