Oklo (NYSE:OKLO) Shares Down 5.2% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price fell 5.2% during mid-day trading on Thursday . The stock traded as low as $24.40 and last traded at $24.83. 3,584,946 shares were traded during mid-day trading, a decline of 81% from the average session volume of 18,663,906 shares. The stock had previously closed at $26.19.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OKLO. Citigroup raised 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. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective on the stock. B. Riley raised their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Wedbush lifted their price target on shares of 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Stock Performance

The stock’s 50 day simple moving average is $35.85 and its two-hundred day simple moving average is $23.03.

Insiders Place Their Bets

In other news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the sale, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently made changes to their positions in OKLO. Windmill Hill Asset Management Ltd bought a new position in shares of Oklo in the fourth quarter valued at about $1,476,000. Polar Asset Management Partners Inc. bought a new position in shares of Oklo in the fourth quarter valued at about $781,000. Alpine Global Management LLC bought a new position in shares of Oklo in the fourth quarter valued at about $427,000. Value Aligned Research Advisors LLC bought a new position in shares of Oklo in the fourth quarter valued at about $1,209,000. Finally, Gordian Capital Singapore Pte Ltd raised its holdings in shares of Oklo by 1,058.3% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 6,000 shares of the company’s stock valued at $127,000 after buying an additional 5,482 shares during the last quarter. Institutional investors and hedge funds 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.