Oklo (NYSE:OKLO) Trading Down 10.1% – Time to Sell?

Oklo Inc. (NYSE:OKLO) was down 10.1% during trading on Tuesday . The company traded as low as $29.82 and last traded at $30.65. Approximately 8,468,350 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 20,245,434 shares. The stock had previously closed at $34.08.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OKLO. Wedbush increased their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. B. Riley boosted their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target for the company. Finally, Citigroup boosted their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Stock Down 9.6 %

The stock has a 50 day moving average of $34.01 and a two-hundred day moving average of $21.13.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $99,750. The trade was 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 hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. DRW Securities LLC purchased a new position in shares of Oklo during the 3rd quarter worth approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Oklo in the third quarter valued at $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Oklo during the third quarter valued at $104,000. Portland Investment Counsel Inc. purchased a new stake in Oklo during the 3rd quarter worth about $6,493,000. Finally, Atom Investors LP purchased a new position in Oklo in the 3rd quarter valued at about $657,000. 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.