Oklo (NYSE:OKLO) Shares Gap Down – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $38.79, but opened at $37.17. Oklo shares last traded at $34.61, with a volume of 5,911,098 shares traded.

Analyst Upgrades and Downgrades

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

Oklo Stock Up 9.6 %

The firm’s 50 day moving average is $34.28 and its 200-day moving average is $21.31.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction dated 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 directly 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of the business’s stock in a transaction 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 completion of the purchase, 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 currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. purchased a new position in shares of Oklo in the fourth quarter worth about $27,000. Sandy Spring Bank purchased a new position in Oklo in the 4th quarter worth approximately $32,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo in the fourth quarter valued at approximately $32,000. Covestor Ltd acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $34,000. Finally, Anfield Capital Management LLC purchased a new position in Oklo during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors 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.