Oklo (NYSE:OKLO) Shares Down 5.2% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares were down 5.2% during trading on Thursday . The stock traded as low as $24.40 and last traded at $24.83. Approximately 3,584,946 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 18,663,906 shares. The stock had previously closed at $26.19.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OKLO shares. B. Riley raised their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Wedbush raised their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Citigroup raised their target price 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, Craig Hallum started coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Up 16.1 %

The business’s 50-day moving average price is $35.85 and its 200-day moving average price is $23.03.

Insider Transactions at Oklo

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

Hedge Funds Weigh In On Oklo

Institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. bought a new position in shares of Oklo in the fourth quarter valued at approximately $27,000. Sandy Spring Bank bought a new position in shares of Oklo in the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC bought a new position in shares of Oklo in the fourth quarter valued at approximately $32,000. Covestor Ltd bought a new position in shares of Oklo in the fourth quarter valued at approximately $34,000. Finally, Anfield Capital Management LLC bought a new position in shares of Oklo in the fourth quarter valued at approximately $43,000. 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.