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

Oklo Inc. (NYSE:OKLO)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $38.79, but opened at $37.17. Oklo shares last traded at $34.61, with a volume of 5,911,098 shares trading hands.

Wall Street Analyst Weigh In

OKLO has been the subject of several recent analyst reports. Citigroup raised their price target on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. B. Riley raised their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Craig Hallum initiated 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. Finally, Wedbush raised their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and an average target price of $44.50.

Oklo Stock Down 9.3 %

The firm’s 50 day moving average price is $33.70 and its two-hundred day moving average price is $20.94.

Insider Activity

In other news, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Large investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. acquired a new position in Oklo in the 4th quarter worth about $27,000. CoreCap Advisors LLC bought a new position in Oklo during the fourth quarter valued at approximately $32,000. Sandy Spring Bank acquired a new stake in Oklo in the fourth quarter valued at approximately $32,000. Covestor Ltd bought a new stake in Oklo in the fourth quarter worth approximately $34,000. Finally, Anfield Capital Management LLC acquired a new position in shares of Oklo during the 4th quarter worth $43,000. 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.