Oklo (NYSE:OKLO) Stock Price Down 7.5% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price was down 7.5% on Thursday . The stock traded as low as $27.43 and last traded at $28.03. Approximately 5,575,815 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 19,340,100 shares. The stock had previously closed at $30.29.

Analysts Set New Price Targets

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

Oklo Stock Performance

The business’s fifty day moving average price is $35.50 and its two-hundred day moving average price is $22.24.

Insiders Place Their Bets

In related news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.61, for a total value of $4,982,596.09. Following 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 disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

A number of institutional investors and hedge funds have recently modified their holdings of OKLO. Windmill Hill Asset Management Ltd acquired a new position in Oklo in the 4th quarter valued at $1,476,000. Polar Asset Management Partners Inc. bought a new stake in shares of Oklo in the fourth quarter valued at approximately $781,000. Alpine Global Management LLC acquired a new stake in shares of Oklo in the fourth quarter worth $427,000. Value Aligned Research Advisors LLC acquired a new stake in shares of Oklo in the fourth quarter worth $1,209,000. Finally, Gordian Capital Singapore Pte Ltd increased its position in Oklo by 1,058.3% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 6,000 shares of the company’s stock worth $127,000 after acquiring an additional 5,482 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.