Oklo (NYSE:OKLO) Shares Down 6.7% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) dropped 6.7% during mid-day trading on Friday . The company traded as low as $39.43 and last traded at $39.79. Approximately 4,757,612 shares changed hands during trading, a decline of 77% from the average daily volume of 20,512,799 shares. The stock had previously closed at $42.66.

Analyst Ratings Changes

OKLO has been the topic of a number of recent research reports. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. Citigroup upped their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. B. Riley upped 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. Finally, Wedbush upped 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Oklo currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Oklo Stock Performance

The business has a 50 day moving average price of $33.30 and a 200 day moving average price of $20.54.

Insider Buying and Selling

In related news, Director Richard Kinzley bought 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the 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 sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by insiders.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Portland Investment Counsel Inc. bought a new stake in Oklo during the 3rd quarter valued at $6,493,000. HITE Hedge Asset Management LLC bought a new stake in Oklo during the 3rd quarter valued at $19,753,000. Atomi Financial Group Inc. bought a new stake in Oklo during the 4th quarter valued at $19,285,000. Archford Capital Strategies LLC bought a new stake in Oklo during the 4th quarter valued at $212,000. Finally, Barclays PLC bought a new stake in Oklo during the 3rd quarter valued at $58,000. Institutional investors own 85.03% of the company’s stock.

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.