Oklo (NYSE:OKLO) Trading Down 4.5% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price traded down 4.5% during mid-day trading on Monday . The company traded as low as $51.70 and last traded at $52.56. 14,199,443 shares traded hands during trading, a decline of 37% from the average session volume of 22,392,098 shares. The stock had previously closed at $55.03.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup raised their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Craig Hallum began coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Wedbush lifted their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, B. Riley lifted their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Price Performance

The firm has a 50 day moving average price of $31.00 and a 200-day moving average price of $19.60.

Insider Activity

In related news, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $4,982,596.09. Following the completion of the transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC purchased a new stake in Oklo during the third quarter worth approximately $19,753,000. Vanguard Group Inc. lifted its stake in Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Oklo during the fourth quarter worth approximately $38,661,000. Atomi Financial Group Inc. purchased a new stake in Oklo during the fourth quarter worth approximately $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Oklo during the fourth quarter worth approximately $17,104,000. Hedge funds and other institutional investors 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.