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

Shares of Oklo Inc. (NYSE:OKLO) gapped down before the market opened on Tuesday . The stock had previously closed at $28.00, but opened at $27.00. Oklo shares last traded at $26.41, with a volume of 2,339,351 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OKLO shares. Wedbush increased their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Craig Hallum assumed 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. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Citigroup boosted their target price on shares of Oklo from $10.00 to $31.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Price Performance

The company’s 50-day simple moving average is $35.81 and its 200-day simple moving average is $23.42.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction 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 approximately $271,056,066.85. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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