Oklo (NYSE:OKLO) Shares Gap Down – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $26.27, but opened at $24.88. Oklo shares last traded at $23.67, with a volume of 2,503,336 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OKLO shares. Citigroup raised their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. B. Riley raised their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Wedbush lifted their price objective on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, Craig Hallum assumed coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Trading Up 7.5 %

The stock has a fifty day simple moving average of $35.70 and a 200 day simple moving average of $22.86.

Insider Buying and Selling

In related news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price 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 of the company’s stock, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’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 $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

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

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.