Oklo (NYSE:OKLO) Trading Down 0% – What’s Next?

Oklo Inc. (NYSE:OKLO) fell 0% during trading on Tuesday . The company traded as low as $43.76 and last traded at $45.91. 11,672,160 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 21,890,701 shares. The stock had previously closed at $45.93.

Wall Street Analyst Weigh In

OKLO has been the subject of several recent research reports. Wedbush raised their target price on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Craig Hallum began 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, Citigroup upped their target price on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Oklo Stock Down 5.5 %

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

Insider Buying and Selling

In related news, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was bought 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 represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 230,569 shares of the 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 $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 company insiders.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo during the 3rd quarter worth about $19,753,000. Van ECK Associates Corp acquired a new position in Oklo during the fourth quarter valued at approximately $38,661,000. Atomi Financial Group Inc. purchased a new stake in Oklo during the fourth quarter worth approximately $19,285,000. TimesSquare Capital Management LLC acquired a new stake in shares of Oklo in the fourth quarter worth $17,104,000. Finally, Portland Investment Counsel Inc. purchased a new position in shares of Oklo in the 3rd quarter valued at $6,493,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.