Oklo Inc. (NYSE:OKLO – Get Free Report)’s stock price dropped 6.2% during trading on Tuesday . The stock traded as low as $25.75 and last traded at $26.26. Approximately 4,002,512 shares were traded during trading, a decline of 65% from the average daily volume of 11,573,881 shares. The stock had previously closed at $28.00.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on OKLO. Wedbush raised their target price on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Craig Hallum assumed coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target on the stock. B. Riley lifted their price objective on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.50.
View Our Latest Stock Report on OKLO
Oklo Trading Up 8.1 %
Insider Buying and Selling at Oklo
In other news, CEO Jacob Dewitte sold 230,569 shares of the company’s 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 transaction, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The stock was acquired 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 directly owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in OKLO. HITE Hedge Asset Management LLC bought a new stake in Oklo in the 3rd quarter worth approximately $19,753,000. Vanguard Group Inc. boosted its stake in shares of Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after buying an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Oklo in the 4th quarter worth $38,661,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo in the fourth quarter worth $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Oklo during the fourth quarter valued at $17,104,000. 85.03% of the stock is 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.
Recommended Stories
- Five stocks we like better than Oklo
- Growth Stocks: What They Are, What They Are Not
- 3 Defense Stocks Set to Benefit From Increased Military Spending
- Earnings Per Share Calculator: How to Calculate EPS
- Aluminum Tariff Woes: Between 2 Stocks, 1 Shines Brighter
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- Semtech Rallies on Earnings Beat—Is There More Upside?
Receive News & Ratings for Oklo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oklo and related companies with MarketBeat.com's FREE daily email newsletter.