Oklo (NYSE:OKLO) Trading Down 1.5% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price fell 1.5% during trading on Friday . The company traded as low as $24.48 and last traded at $25.58. 5,386,339 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 19,165,238 shares. The stock had previously closed at $25.97.

Analyst Ratings Changes

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

Oklo Trading Up 1.7 %

The business has a fifty day moving average price of $35.54 and a 200 day moving average price of $22.26.

Insider Buying and Selling at Oklo

In related news, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OKLO. HITE Hedge Asset Management LLC bought a new position in Oklo during the third quarter valued at about $19,753,000. Vanguard Group Inc. increased its position in shares of Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the period. Van ECK Associates Corp acquired a new position in shares of Oklo in the fourth quarter valued at $38,661,000. Atomi Financial Group Inc. bought a new position in Oklo in the fourth quarter worth $19,285,000. Finally, TimesSquare Capital Management LLC acquired a new stake in Oklo during the fourth quarter worth $17,104,000. 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.