Oklo (NYSE:OKLO) Stock Price Down 1.7% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares were down 1.7% on Tuesday . The stock traded as low as $30.00 and last traded at $30.58. Approximately 13,611,328 shares were traded during trading, a decline of 30% from the average daily volume of 19,364,342 shares. The stock had previously closed at $31.11.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of analyst reports. Wedbush lifted their price objective on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday. Craig Hallum assumed coverage on Oklo in a research note on Tuesday. They set a “buy” rating and a $44.00 price target for the company. Finally, Citigroup increased 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Oklo Trading Up 9.4 %

The firm’s fifty day moving average is $23.90 and its two-hundred day moving average is $15.79.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade 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 Investors Weigh In On Oklo

Large investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new position in Oklo in the fourth quarter valued at approximately $175,000. Windmill Hill Asset Management Ltd purchased a new position in shares of Oklo during the 4th quarter valued at $1,476,000. Financial Advocates Investment Management bought a new position in shares of Oklo during the 4th quarter worth $241,000. Stratos Wealth Partners LTD. purchased a new stake in Oklo in the 4th quarter worth about $280,000. Finally, Stephens Consulting LLC purchased a new stake in Oklo in the 4th quarter worth about $127,000. Hedge funds and other institutional investors 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.