Oklo (NYSE:OKLO) Trading Down 1.7% – What’s Next?

Oklo Inc. (NYSE:OKLO) fell 1.7% during trading on Tuesday . The stock traded as low as $30.00 and last traded at $30.58. 13,611,328 shares traded hands during trading, a decline of 30% from the average session volume of 19,364,342 shares. The stock had previously closed at $31.11.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on OKLO shares. Wedbush raised their price target on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday. Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday. They set a “buy” rating and a $44.00 target price on the stock. Finally, Citigroup increased their price target on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Oklo Stock Performance

The company’s 50 day moving average price is $23.90 and its 200-day moving average price is $15.79.

Insider Buying and Selling

In related 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 value of $4,982,596.09. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DRW Securities LLC bought a new stake in Oklo in the third quarter worth approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Oklo during the 3rd quarter worth approximately $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Oklo during the 3rd quarter worth approximately $104,000. Portland Investment Counsel Inc. bought a new stake in shares of Oklo in the 3rd quarter valued at $6,493,000. Finally, Atom Investors LP bought a new position in Oklo during the third quarter worth $657,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.