Oklo (NYSE:OKLO) Trading Down 3.8% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares dropped 3.8% during mid-day trading on Thursday . The company traded as low as $46.53 and last traded at $48.60. Approximately 11,730,249 shares changed hands during trading, a decline of 47% from the average daily volume of 22,100,115 shares. The stock had previously closed at $50.50.

Wall Street Analyst Weigh In

OKLO has been the topic of a number of recent research reports. Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. Citigroup increased their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Finally, Wedbush raised their price target on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. 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 a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Oklo Trading Down 2.8 %

The stock has a fifty day moving average of $26.63 and a two-hundred day moving average of $17.39.

Insider Activity at Oklo

In related news, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction on 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 purchase, the director now directly 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 document filed with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 completion of the transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $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. 21.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oklo

Large investors have recently bought and sold shares of the stock. Anfield Capital Management LLC purchased a new position in Oklo in the 4th quarter worth approximately $43,000. Kozak & Associates Inc. purchased a new position in shares of Oklo during the fourth quarter valued at approximately $57,000. Spire Wealth Management purchased a new position in shares of Oklo during the fourth quarter valued at approximately $72,000. Wolff Wiese Magana LLC purchased a new position in shares of Oklo during the fourth quarter valued at approximately $99,000. Finally, Stephens Consulting LLC purchased a new position in shares of Oklo during the fourth quarter valued at approximately $127,000. 85.03% of the stock is owned by hedge funds and other 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.