Oklo (NYSE:OKLO) Shares Down 3.6% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price was down 3.6% during trading on Wednesday . The company traded as low as $29.11 and last traded at $29.80. Approximately 4,702,665 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 19,519,021 shares. The stock had previously closed at $30.92.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OKLO shares. Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. B. Riley lifted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Citigroup increased their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Oklo has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Price Performance

The business has a 50 day simple moving average of $35.54 and a 200 day simple moving average of $22.26.

Insider Activity at Oklo

In related news, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’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 value 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 position. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently modified their holdings of OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Oklo by 1.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock valued at $104,646,000 after buying an additional 74,315 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Oklo in the third quarter valued at about $19,753,000. Van ECK Associates Corp bought a new position in shares of Oklo in the fourth quarter worth about $38,661,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Oklo during the 4th quarter worth about $19,285,000. Institutional investors 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.