Oklo (NYSE:OKLO) Trading Down 7.1% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price fell 7.1% on Thursday . The stock traded as low as $40.30 and last traded at $41.93. 7,687,825 shares traded hands during trading, a decline of 63% from the average session volume of 20,871,680 shares. The stock had previously closed at $45.12.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OKLO. B. Riley raised 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. Wedbush raised their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price for the company. Finally, Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Stock Down 5.4 %

The stock’s fifty day simple moving average is $32.81 and its 200-day simple moving average is $20.39.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred 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 sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently made changes to their positions in OKLO. DRW Securities LLC bought a new stake in shares of Oklo during the third quarter valued at approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Oklo during the third quarter valued at approximately $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Oklo during the third quarter valued at approximately $104,000. Portland Investment Counsel Inc. acquired a new position in shares of Oklo during the third quarter valued at approximately $6,493,000. Finally, Atom Investors LP acquired a new position in shares of Oklo during the third quarter valued at approximately $657,000. Institutional investors own 85.03% of the company’s stock.

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.