Oklo (NYSE:OKLO) Shares Gap Down – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares gapped down before the market opened on Tuesday . The stock had previously closed at $28.00, but opened at $27.00. Oklo shares last traded at $26.41, with a volume of 2,339,351 shares.

Analysts Set New Price Targets

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

Oklo Price Performance

The business’s 50-day moving average is $35.78 and its two-hundred day moving average is $23.59.

Insider Activity at Oklo

In other news, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 completion of the transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents 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 insiders.

Institutional Investors Weigh In On Oklo

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

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.