Oklo (NYSE:OKLO) Stock Price Down 0.5% – Should You Sell?

Oklo Inc. (NYSE:OKLO) dropped 0.5% during trading on Wednesday . The stock traded as low as $25.51 and last traded at $25.35. Approximately 7,404,496 shares were traded during trading, a decline of 61% from the average daily volume of 18,801,920 shares. The stock had previously closed at $25.47.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OKLO shares. 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 research note on Thursday, February 6th. Wedbush raised their price objective on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Citigroup increased their price target on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Trading Up 5.3 %

The business’s 50-day moving average is $35.70 and its 200-day moving average is $22.86.

Insider Activity

In other news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 5,000 shares in the company, valued at $99,750. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s 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 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. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OKLO. HITE Hedge Asset Management LLC purchased a new position in Oklo during the third quarter valued at $19,753,000. Vanguard Group Inc. raised its position in shares of Oklo by 92.8% during the 4th 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 position in Oklo in the 4th quarter valued at about $38,661,000. Atomi Financial Group Inc. purchased a new position in Oklo in the 4th quarter valued at about $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Oklo during the 4th quarter worth approximately $17,104,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

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.