Oklo (NYSE:OKLO) Trading Down 6.2% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares traded down 6.2% during trading on Tuesday . The company traded as low as $25.75 and last traded at $26.26. 4,002,512 shares were traded during trading, a decline of 65% from the average session volume of 11,573,881 shares. The stock had previously closed at $28.00.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of recent research reports. Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Wedbush increased their price objective on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. 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 target price on the stock. Finally, B. Riley upped their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Oklo Stock Down 4.6 %

The business has a fifty day moving average of $35.81 and a 200 day moving average of $23.42.

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 completion of the transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Kinzley acquired 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its stake in Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company’s stock worth $163,000 after purchasing an additional 416 shares during the last quarter. Ancora Advisors LLC raised its holdings in shares of Oklo by 18.2% during the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock worth $98,000 after purchasing an additional 710 shares during the period. TD Waterhouse Canada Inc. bought a new position in shares of Oklo in the 4th quarter worth about $27,000. CoreCap Advisors LLC acquired a new position in shares of Oklo in the 4th quarter valued at about $32,000. Finally, Sandy Spring Bank bought a new stake in shares of Oklo during the 4th quarter valued at 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.