Oklo (NYSE:OKLO) Shares Down 2.5% – Should You Sell?

Oklo Inc. (NYSE:OKLO) dropped 2.5% on Friday . The stock traded as low as $26.15 and last traded at $27.06. Approximately 2,799,059 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 11,551,108 shares. The stock had previously closed at $27.77.

Analysts Set New Price Targets

OKLO has been the subject of several recent research reports. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. B. Riley lifted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Wedbush boosted their target price on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Trading Down 1.3 %

The business has a fifty day moving average of $35.81 and a 200-day moving average of $23.62.

Insiders Place Their Bets

In related news, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. TD Waterhouse Canada Inc. bought a new position in shares of Oklo during the 4th quarter valued at $27,000. Sandy Spring Bank bought a new position in shares of Oklo during the 4th quarter valued at $32,000. CoreCap Advisors LLC bought a new position in shares of Oklo during the 4th quarter valued at $32,000. Covestor Ltd bought a new position in shares of Oklo during the 4th quarter valued at $34,000. Finally, Anfield Capital Management LLC bought a new position in shares of Oklo during the 4th quarter valued at $43,000. 85.03% of the stock is owned by 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.