Oklo (NYSE:OKLO) Trading Down 6.7% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price was down 6.7% on Friday . The stock traded as low as $39.43 and last traded at $39.79. Approximately 4,757,612 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 20,512,799 shares. The stock had previously closed at $42.66.

Wall Street Analyst Weigh In

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

Oklo Stock Performance

The company’s 50-day moving average is $33.70 and its 200-day moving average is $20.85.

Insider Buying and Selling at Oklo

In related news, Director Richard Kinzley purchased 5,000 shares of the company’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. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated 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 sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, 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. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo in the fourth quarter valued at approximately $27,000. CoreCap Advisors LLC acquired a new position in shares of Oklo in the fourth quarter valued at approximately $32,000. Sandy Spring Bank acquired a new position in shares of Oklo in the fourth quarter valued at approximately $32,000. Covestor Ltd acquired a new position in shares of Oklo in the fourth quarter valued at approximately $34,000. Finally, Anfield Capital Management LLC acquired a new position in shares of Oklo in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds 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.