Oklo (NYSE:OKLO) Stock Price Down 7.5% – Should You Sell?

Oklo Inc. (NYSE:OKLO) fell 7.5% on Thursday . The stock traded as low as $27.43 and last traded at $28.03. 5,575,815 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 19,340,100 shares. The stock had previously closed at $30.29.

Analysts Set New Price Targets

A number of brokerages have issued reports on OKLO. Craig Hallum started coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective on the stock. Citigroup lifted 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. Wedbush upped their price objective on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, B. Riley raised their target price on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.50.

Oklo Trading Up 1.1 %

The business’s 50-day moving average price is $35.61 and its two-hundred day moving average price is $22.39.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction dated 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 acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Several hedge funds and other institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new stake in Oklo in the 4th quarter valued at approximately $27,000. CoreCap Advisors LLC bought a new position in shares of Oklo during the 4th quarter worth approximately $32,000. Sandy Spring Bank acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $32,000. Covestor Ltd bought a new stake in shares of Oklo in the fourth quarter worth $34,000. Finally, Anfield Capital Management LLC acquired a new position in Oklo during the fourth quarter worth $43,000. Institutional investors and hedge funds 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.