Oklo (NYSE:OKLO) Trading Down 3.8% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares traded down 3.8% during trading on Thursday . The stock traded as low as $46.53 and last traded at $48.60. 11,730,249 shares changed hands during trading, a decline of 47% from the average session volume of 22,100,115 shares. The stock had previously closed at $50.50.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKLO. Citigroup raised their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Wedbush boosted their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. B. Riley boosted their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.50.

Oklo Price Performance

The firm has a 50-day moving average price of $27.78 and a two-hundred day moving average price of $17.92.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of the firm’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 completion of the sale, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Anfield Capital Management LLC purchased a new stake in Oklo in the fourth quarter valued at approximately $43,000. AlphaQuest LLC acquired a new position in Oklo during the fourth quarter worth about $45,000. Kozak & Associates Inc. purchased a new position in Oklo in the 4th quarter valued at approximately $57,000. Spire Wealth Management purchased a new stake in shares of Oklo in the 4th quarter worth about $72,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Oklo during the 4th quarter worth approximately $99,000. 85.03% of the stock is 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.