Oklo (NYSE:OKLO) Trading Down 1.5% – What’s Next?

Oklo Inc. (NYSE:OKLO) shares dropped 1.5% during mid-day trading on Friday . The stock traded as low as $24.48 and last traded at $25.58. Approximately 5,386,339 shares traded hands during trading, a decline of 72% from the average daily volume of 19,165,238 shares. The stock had previously closed at $25.97.

Wall Street Analyst Weigh In

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

Oklo Trading Up 1.1 %

The business has a fifty day moving average price of $35.61 and a 200 day moving average price of $22.50.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Kinzley bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Trading of Oklo

A number of hedge funds have recently modified their holdings of OKLO. Portland Investment Counsel Inc. bought a new position in Oklo in the third quarter worth $6,493,000. HITE Hedge Asset Management LLC bought a new position in shares of Oklo during the 3rd quarter worth about $19,753,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo during the 4th quarter valued at about $19,285,000. Archford Capital Strategies LLC acquired a new stake in shares of Oklo during the 4th quarter valued at about $212,000. Finally, Barclays PLC bought a new stake in Oklo in the third quarter valued at about $58,000. Institutional investors own 85.03% of the company’s stock.

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.