Oklo (NYSE:OKLO) Stock Price Down 4.4% – Time to Sell?

Oklo Inc. (NYSE:OKLO) shares traded down 4.4% during trading on Friday . The company traded as low as $24.40 and last traded at $24.98. 4,577,064 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 15,905,613 shares. The stock had previously closed at $26.12.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OKLO shares. B. Riley started coverage on Oklo in a report on Thursday, September 19th. They set a “buy” rating and a $10.00 price objective on the stock. Wedbush started coverage on Oklo in a report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday.

Oklo Stock Performance

The business’s 50-day moving average is $22.36 and its two-hundred day moving average is $14.09.

Insider Transactions at Oklo

In other Oklo news, 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 cost of $19.95 per share, with a total value of $99,750.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the stock. HITE Hedge Asset Management LLC acquired a new position in Oklo during the 3rd quarter valued at about $19,753,000. Portland Investment Counsel Inc. acquired a new position in shares of Oklo during the third quarter valued at approximately $6,493,000. Readystate Asset Management LP bought a new stake in Oklo during the third quarter worth approximately $6,193,000. Geode Capital Management LLC acquired a new stake in Oklo in the third quarter worth approximately $5,971,000. Finally, State Street Corp acquired a new position in shares of Oklo during the 3rd quarter valued at $2,889,000. 85.03% of the stock is currently owned by institutional investors.

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.