Oklo (NYSE:OKLO) Stock Price Down 3.4% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares dropped 3.4% on Tuesday . The stock traded as low as $49.68 and last traded at $50.83. Approximately 6,565,754 shares were traded during trading, a decline of 69% from the average daily volume of 21,307,885 shares. The stock had previously closed at $52.62.

Analyst Ratings Changes

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

Oklo Stock Performance

The business’s 50 day simple moving average is $32.81 and its 200 day simple moving average is $20.39.

Insider Buying and Selling at Oklo

In other news, Director Richard Kinzley bought 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, with a total value of $99,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $99,750. This trade 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 hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s 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 transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Several hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. acquired a new stake in Oklo in the 4th quarter valued at about $27,000. Sandy Spring Bank acquired a new stake in Oklo in the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC purchased a new position in Oklo in the fourth quarter worth approximately $32,000. Covestor Ltd acquired a new position in Oklo during the 4th quarter worth approximately $34,000. Finally, Anfield Capital Management LLC acquired a new position in Oklo during the 4th quarter worth approximately $43,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.