Oklo (NYSE:OKLO) Shares Down 7.5% – Should You Sell?

Shares of Oklo Inc. (NYSE:OKLO) dropped 7.5% on Thursday . The company traded as low as $27.43 and last traded at $28.03. Approximately 5,575,815 shares changed hands during trading, a decline of 71% from the average daily volume of 19,340,100 shares. The stock had previously closed at $30.29.

Wall Street Analyst Weigh In

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

Oklo Stock Down 13.7 %

The stock has a fifty day moving average price of $35.50 and a 200-day moving average price of $22.24.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the business’s 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 $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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This 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.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo in the fourth quarter valued at $27,000. Sandy Spring Bank bought a new stake in Oklo during the 4th quarter worth about $32,000. CoreCap Advisors LLC acquired a new stake in Oklo in the 4th quarter valued at about $32,000. Covestor Ltd bought a new position in shares of Oklo in the fourth quarter worth about $34,000. Finally, Anfield Capital Management LLC acquired a new position in shares of Oklo during the fourth quarter worth approximately $43,000. 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.