Oklo (NYSE:OKLO) Trading Down 9.2% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s stock price fell 9.2% during trading on Monday . The stock traded as low as $34.01 and last traded at $35.21. 7,403,695 shares were traded during mid-day trading, a decline of 64% from the average session volume of 20,413,525 shares. The stock had previously closed at $38.79.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OKLO. Craig Hallum initiated coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Citigroup boosted their price target on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Wedbush increased their price objective 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, B. Riley boosted 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Oklo currently has an average rating of “Moderate Buy” and an average target price of $44.50.

Oklo Trading Up 9.6 %

The company’s 50-day simple moving average is $34.28 and its 200 day simple moving average is $21.31.

Insiders Place Their Bets

In other news, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now directly 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 transaction was disclosed in a document filed 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 transaction of $4,982,596.09. Following the sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This trade represents 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.

Institutional Investors Weigh In On Oklo

Hedge funds have recently bought and sold shares of the company. TD Waterhouse Canada Inc. bought a new stake in shares of Oklo in the fourth quarter valued at about $27,000. Sandy Spring Bank bought a new stake in shares of Oklo in the fourth quarter valued at about $32,000. CoreCap Advisors LLC bought a new stake in shares of Oklo in the fourth quarter valued at about $32,000. Covestor Ltd bought a new stake in shares of Oklo in the fourth quarter valued at about $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo in the fourth quarter valued at about $43,000. 85.03% of the stock is currently owned by institutional investors.

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.