Oklo (NYSE:OKLO) Trading Down 4.5% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price was down 4.5% on Monday . The stock traded as low as $51.70 and last traded at $52.56. Approximately 14,199,443 shares were traded during trading, a decline of 37% from the average daily volume of 22,392,098 shares. The stock had previously closed at $55.03.

Analysts Set New Price Targets

Several analysts have weighed in on OKLO shares. B. Riley lifted their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Wedbush lifted their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Citigroup lifted their target price 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 started coverage on Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Down 9.8 %

The stock has a 50 day moving average price of $32.29 and a 200 day moving average price of $20.21.

Insider Transactions at Oklo

In related news, Director Richard Kinzley bought 5,000 shares of the firm’s 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 acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo in the 4th quarter worth $27,000. Sandy Spring Bank purchased a new position in shares of Oklo during the fourth quarter valued at $32,000. CoreCap Advisors LLC purchased a new position in shares of Oklo during the fourth quarter valued at $32,000. Covestor Ltd purchased a new position in shares of Oklo during the fourth quarter valued at $34,000. Finally, Anfield Capital Management LLC purchased a new position in shares of Oklo during the fourth quarter valued at $43,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.