Oklo (NYSE:OKLO) Shares Down 3.5% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price dropped 3.5% during mid-day trading on Thursday . The company traded as low as $51.53 and last traded at $52.48. Approximately 5,299,392 shares traded hands during trading, a decline of 76% from the average daily volume of 21,791,596 shares. The stock had previously closed at $54.38.

Wall Street Analysts Forecast Growth

OKLO has been the subject of a number of analyst reports. Citigroup boosted their price objective 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 target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Wedbush boosted their price objective on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Trading Down 3.4 %

The business has a 50-day moving average price of $29.69 and a 200-day moving average price of $18.90.

Insider Activity

In other news, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction 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 owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings 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 valued at $92,216,000 after acquiring an additional 2,090,154 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in Oklo during the third quarter worth about $19,753,000. Van ECK Associates Corp bought a new position in Oklo during the fourth quarter worth about $38,661,000. Atomi Financial Group Inc. bought a new position in Oklo during the fourth quarter worth about $19,285,000. Finally, TimesSquare Capital Management LLC bought a new position in Oklo during the fourth quarter worth about $17,104,000. Institutional investors and hedge funds 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.