Oklo (NYSE:OKLO) Shares Down 3.4% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price dropped 3.4% on Tuesday . The company traded as low as $49.68 and last traded at $50.83. Approximately 6,565,754 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 21,307,885 shares. The stock had previously closed at $52.62.

Analysts Set New Price Targets

Several brokerages have issued reports on OKLO. B. Riley boosted 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. Citigroup boosted their target price on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. 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. Finally, Craig Hallum started 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Oklo has an average rating of “Moderate Buy” and an average target price of $44.50.

Oklo Stock Performance

The company’s fifty day moving average is $32.81 and its 200-day moving average is $20.39.

Insider Transactions at Oklo

In other news, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 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 position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Oklo by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock worth $104,646,000 after buying an additional 74,315 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in Oklo during the 3rd quarter worth about $19,753,000. Van ECK Associates Corp purchased a new position in shares of Oklo during the 4th quarter valued at about $38,661,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Oklo in the 4th quarter valued at about $19,285,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.