Oklo (NYSE:OKLO) Shares Down 7.1% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s stock price traded down 7.1% on Thursday . The company traded as low as $40.30 and last traded at $41.93. 7,687,825 shares were traded during mid-day trading, a decline of 63% from the average session volume of 20,871,680 shares. The stock had previously closed at $45.12.

Analysts Set New Price Targets

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

Oklo Stock Down 9.1 %

The stock has a 50 day moving average of $33.70 and a 200-day moving average of $20.76.

Insider Activity at Oklo

In other news, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost 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 approximately $99,750. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the company’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 sale, the chief executive officer now owns 12,543,085 shares in the company, 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 Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. DRW Securities LLC bought a new stake in shares of Oklo during the third quarter valued at about $404,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Oklo during the third quarter valued at about $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Oklo during the third quarter worth about $104,000. Portland Investment Counsel Inc. purchased a new position in shares of Oklo during the third quarter worth about $6,493,000. Finally, Atom Investors LP purchased a new position in shares of Oklo during the third quarter worth about $657,000. 85.03% of the stock is currently owned by 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.