Oklo (NYSE:OKLO) Trading Down 23.3% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price was down 23.3% during mid-day trading on Monday . The company traded as low as $31.50 and last traded at $32.07. Approximately 23,334,761 shares were traded during trading, an increase of 26% from the average daily volume of 18,490,805 shares. The stock had previously closed at $41.82.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OKLO shares. Citigroup increased their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Wedbush boosted their target price on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday.

Oklo Stock Down 25.6 %

The stock has a 50 day moving average of $23.69 and a 200-day moving average of $15.62.

Insiders Place Their Bets

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was acquired 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 directly owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred on Friday, December 20th. The stock was 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 represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently made changes to their positions in the business. Kozak & Associates Inc. bought a new position in Oklo during the fourth quarter valued at $57,000. Spire Wealth Management purchased a new position in Oklo during the fourth quarter worth $72,000. Wolff Wiese Magana LLC bought a new position in Oklo during the fourth quarter valued at $99,000. Stephens Consulting LLC purchased a new stake in Oklo in the 4th quarter worth about $127,000. Finally, Barclays PLC purchased a new stake in shares of Oklo during the third quarter valued at $58,000. Hedge funds and other 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.