Oklo (NYSE:OKLO) Trading Down 4.4% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price traded down 4.4% during trading on Tuesday . The stock traded as low as $50.66 and last traded at $51.36. 6,257,545 shares traded hands during trading, a decline of 72% from the average session volume of 22,190,885 shares. The stock had previously closed at $53.73.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of analyst reports. Craig Hallum started coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Citigroup lifted their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Wedbush raised their price target on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Performance

The stock has a 50-day moving average price of $28.41 and a 200-day moving average price of $18.36.

Insider Activity

In related news, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their position. The acquisition 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 the business’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

A number of institutional investors have recently added to or reduced their stakes in OKLO. Portland Investment Counsel Inc. bought a new position in Oklo in the 3rd quarter worth approximately $6,493,000. HITE Hedge Asset Management LLC acquired a new position in Oklo during the 3rd quarter valued at $19,753,000. Atomi Financial Group Inc. bought a new stake in Oklo in the 4th quarter valued at $19,285,000. Archford Capital Strategies LLC acquired a new stake in Oklo in the 4th quarter worth $212,000. Finally, Barclays PLC bought a new position in shares of Oklo during the 3rd quarter worth about $58,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.