Oklo (NYSE:OKLO) Stock Price Down 8.1% – Here’s Why

Oklo Inc. (NYSE:OKLO) was down 8.1% during mid-day trading on Wednesday . The company traded as low as $45.40 and last traded at $46.12. Approximately 6,523,356 shares changed hands during trading, a decline of 69% from the average daily volume of 21,009,426 shares. The stock had previously closed at $50.19.

Analyst Upgrades and Downgrades

OKLO has been the subject of several analyst reports. Wedbush boosted 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. Craig Hallum assumed coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. B. Riley raised 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, Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Oklo has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Oklo Trading Down 9.4 %

The company’s 50 day moving average price is $32.29 and its 200-day moving average price is $20.21.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of the firm’s 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 transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought 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 owns 5,000 shares in the company, 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 owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alpine Global Management LLC acquired a new stake in shares of Oklo in the fourth quarter valued at about $427,000. Value Aligned Research Advisors LLC acquired a new stake in Oklo in the fourth quarter valued at approximately $1,209,000. Gordian Capital Singapore Pte Ltd raised its stake in shares of Oklo by 1,058.3% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 6,000 shares of the company’s stock valued at $127,000 after purchasing an additional 5,482 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Oklo by 358.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,069 shares of the company’s stock worth $1,254,000 after purchasing an additional 46,188 shares in the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in shares of Oklo in the fourth quarter valued at $5,447,000. 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.