Oklo (NYSE:OKLO) Stock Price Down 1.7% – Time to Sell?

Oklo Inc. (NYSE:OKLO) shares traded down 1.7% during trading on Tuesday . The stock traded as low as $30.00 and last traded at $30.58. 13,611,328 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 19,364,342 shares. The stock had previously closed at $31.11.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of recent analyst reports. Wedbush upped their price target on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Craig Hallum assumed coverage on Oklo in a research note on Tuesday. They set a “buy” rating and a $44.00 target price for the company. Finally, Citigroup raised their target price on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Oklo currently has an average rating of “Moderate Buy” and an average target price of $32.50.

Oklo Stock Up 18.9 %

The company’s 50 day moving average price is $24.43 and its 200 day moving average price is $16.10.

Insider Buying and Selling at Oklo

In other Oklo news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The shares were 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. The trade was 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 stock in a transaction that occurred on Friday, December 20th. The stock was 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 owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. Kozak & Associates Inc. bought a new position in shares of Oklo in the fourth quarter worth about $57,000. Spire Wealth Management bought a new position in Oklo in the 4th quarter worth approximately $72,000. Wolff Wiese Magana LLC acquired a new position in Oklo during the 4th quarter worth $99,000. Stephens Consulting LLC bought a new position in Oklo in the 4th quarter valued at $127,000. Finally, Barclays PLC acquired a new stake in shares of Oklo in the 3rd quarter valued at $58,000. 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.