Oklo (NYSE:OKLO) Shares Gap Down – What’s Next?

Oklo Inc. (NYSE:OKLO) gapped down before the market opened on Monday . The stock had previously closed at $26.27, but opened at $24.88. Oklo shares last traded at $23.67, with a volume of 2,503,336 shares traded.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Craig Hallum started coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. B. Riley upped their price target 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. Wedbush lifted their price target on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Price Performance

The business’s fifty day simple moving average is $35.61 and its 200 day simple moving average is $22.61.

Insider Activity at Oklo

In related news, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were 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 directly 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. 21.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Portland Investment Counsel Inc. bought a new position in Oklo during the third quarter worth $6,493,000. HITE Hedge Asset Management LLC acquired a new stake in shares of Oklo during the third quarter worth $19,753,000. Atomi Financial Group Inc. bought a new position in shares of Oklo in the 4th quarter worth about $19,285,000. Archford Capital Strategies LLC acquired a new position in shares of Oklo in the 4th quarter valued at about $212,000. Finally, Barclays PLC bought a new stake in shares of Oklo during the 3rd quarter valued at about $58,000. 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.