Oklo (NYSE:OKLO) Stock Price Down 1.6% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price dropped 1.6% during trading on Thursday . The stock traded as low as $33.00 and last traded at $34.62. Approximately 10,812,660 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 20,201,350 shares. The stock had previously closed at $35.19.

Wall Street Analysts Forecast Growth

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

Oklo Stock Performance

The company’s 50-day moving average price is $34.61 and its 200-day moving average price is $21.40.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was 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 approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds have recently added to or reduced their stakes in OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Oklo by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock worth $104,646,000 after purchasing an additional 74,315 shares during the period. Vanguard Group Inc. raised its position in Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after buying an additional 2,090,154 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Oklo in the 3rd quarter worth $19,753,000. Van ECK Associates Corp purchased a new stake in shares of Oklo in the fourth quarter valued at about $38,661,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Oklo during the fourth quarter worth about $19,285,000. 85.03% of the stock is 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.