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

Oklo Inc. (NYSE:OKLO) gapped down before the market opened on Monday . The stock had previously closed at $26.27, but opened at $24.88. Oklo shares last traded at $23.67, with a volume of 2,503,336 shares traded.

Wall Street Analysts Forecast Growth

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

Oklo Stock Up 7.5 %

The firm has a fifty day moving average price of $35.70 and a two-hundred day moving average price of $22.86.

Insider Buying and Selling at Oklo

In related news, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. The trade was 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 Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its position in shares of Oklo by 5.7% during the 4th quarter. Barclays PLC now owns 7,666 shares of the company’s stock worth $163,000 after buying an additional 416 shares in the last quarter. Ancora Advisors LLC grew its holdings in Oklo by 18.2% during the 4th quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock worth $98,000 after acquiring an additional 710 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new position in Oklo during the 4th quarter valued at about $27,000. CoreCap Advisors LLC bought a new stake in shares of Oklo in the 4th quarter valued at about $32,000. Finally, Sandy Spring Bank purchased a new stake in shares of Oklo in the 4th quarter worth approximately $32,000. 85.03% of the stock is owned by institutional investors.

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.