Oklo (NYSE:OKLO) Stock Price Down 2% – Should You Sell?

Oklo Inc. (NYSE:OKLO) was down 2% during mid-day trading on Tuesday . The company traded as low as $27.50 and last traded at $28.80. Approximately 5,991,379 shares were traded during trading, a decline of 70% from the average daily volume of 19,648,289 shares. The stock had previously closed at $29.38.

Analyst Ratings Changes

Several equities research analysts recently commented on OKLO shares. B. Riley boosted their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Wedbush upped their price target on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Citigroup boosted their target price on 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 Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Oklo presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Up 4.8 %

The firm’s fifty day simple moving average is $35.22 and its 200 day simple moving average is $22.01.

Insiders Place Their Bets

In other news, Director Richard Kinzley bought 5,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Oklo by 5.7% in the 4th quarter. Barclays PLC now owns 7,666 shares of the company’s stock worth $163,000 after purchasing an additional 416 shares in the last quarter. Ancora Advisors LLC lifted its stake in shares of Oklo by 18.2% in the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock valued at $98,000 after buying an additional 710 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo during the fourth quarter valued at about $27,000. CoreCap Advisors LLC acquired a new position in shares of Oklo during the fourth quarter valued at about $32,000. Finally, Sandy Spring Bank bought a new stake in shares of Oklo during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Oklo

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.