Oklo (NYSE:OKLO) Stock Price Down 9.1% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price dropped 9.1% during trading on Monday . The company traded as low as $23.49 and last traded at $23.89. Approximately 4,161,531 shares traded hands during trading, a decline of 78% from the average daily volume of 19,008,266 shares. The stock had previously closed at $26.27.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OKLO. Citigroup increased their target price on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. B. Riley increased their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Finally, Wedbush upped their price target on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Two investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Stock Up 7.5 %

The stock has a 50-day simple moving average of $35.70 and a 200 day simple moving average of $22.86.

Insider Activity

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction 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 approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently made changes to their positions in OKLO. Portland Investment Counsel Inc. purchased a new position in shares of Oklo in the 3rd quarter valued at $6,493,000. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo during the third quarter worth about $19,753,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo during the fourth quarter worth about $19,285,000. Archford Capital Strategies LLC purchased a new stake in shares of Oklo in the 4th quarter valued at about $212,000. Finally, Barclays PLC acquired a new stake in shares of Oklo in the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.