Oklo (NYSE:OKLO) Stock Price Down 9.5% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price traded down 9.5% during trading on Tuesday . The company traded as low as $21.36 and last traded at $21.41. 7,071,056 shares traded hands during mid-day trading, an increase of 12% from the average session volume of 6,317,277 shares. The stock had previously closed at $23.65.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wedbush initiated coverage on shares of Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective on the stock. B. Riley started coverage on Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective for the company. Seaport Res Ptn raised Oklo to a “hold” rating in a research note on Friday, September 6th. Finally, Citigroup dropped their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th.

Oklo Stock Down 12.9 %

The stock’s 50 day moving average price is $21.61 and its two-hundred day moving average price is $13.02.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Institutional investors have recently bought and sold shares of the stock. Peapack Gladstone Financial Corp acquired a new position in shares of Oklo during the 3rd quarter valued at about $100,000. Sanctuary Advisors LLC acquired a new position in Oklo during the third quarter valued at approximately $100,000. Barclays PLC bought a new position in shares of Oklo in the third quarter valued at approximately $58,000. Geode Capital Management LLC acquired a new stake in shares of Oklo in the third quarter worth $5,971,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Oklo during the 3rd quarter worth $94,000. 85.03% of the stock is currently owned by institutional investors.

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.