Oklo (NYSE:OKLO) Shares Gap Down – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price gapped down before the market opened on Monday . The stock had previously closed at $41.61, but opened at $38.69. Oklo shares last traded at $41.55, with a volume of 8,560,298 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on OKLO. Wedbush boosted their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Citigroup raised their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Oklo Trading Up 7.2 %

The stock has a 50-day moving average price of $25.10 and a two-hundred day moving average price of $16.62.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction 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 $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Kozak & Associates Inc. purchased a new position in Oklo in the 4th quarter worth about $57,000. Spire Wealth Management purchased a new position in shares of Oklo during the fourth quarter worth approximately $72,000. Wolff Wiese Magana LLC purchased a new position in shares of Oklo during the fourth quarter worth approximately $99,000. Stephens Consulting LLC bought a new stake in shares of Oklo during the fourth quarter valued at approximately $127,000. Finally, Barclays PLC purchased a new stake in shares of Oklo in the third quarter valued at approximately $58,000. 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.