Oklo (NYSE:OKLO) Trading Down 13.7% – Time to Sell?

Oklo Inc. (NYSE:OKLO) traded down 13.7% during mid-day trading on Wednesday . The stock traded as low as $25.38 and last traded at $25.45. 8,011,606 shares were traded during mid-day trading, a decline of 52% from the average session volume of 16,524,605 shares. The stock had previously closed at $29.50.

Analysts Set New Price Targets

A number of equities research analysts have commented on OKLO shares. B. Riley initiated coverage on Oklo in a report on Thursday, September 19th. They set a “buy” rating and a $10.00 target price on the stock. Wedbush assumed coverage on shares of Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price for the company. Finally, Citigroup raised their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday.

Oklo Trading Down 12.0 %

The business has a fifty day moving average price of $22.14 and a 200 day moving average price of $13.78.

Insider Activity

In other news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently added to or reduced their stakes in OKLO. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo in the 3rd quarter valued at about $6,493,000. HITE Hedge Asset Management LLC acquired a new stake in Oklo during the third quarter valued at approximately $19,753,000. State Street Corp bought a new position in Oklo during the 3rd quarter worth approximately $2,889,000. DRW Securities LLC acquired a new position in shares of Oklo in the 3rd quarter worth approximately $404,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Oklo in the 3rd quarter valued at approximately $104,000. Institutional investors and hedge funds 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.