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

Oklo Inc. (NYSE:OKLO) gapped down before the market opened 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.

Analysts Set New Price Targets

OKLO has been the topic of several recent analyst reports. B. Riley lifted 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. Craig Hallum assumed 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. Wedbush increased their target price on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Down 9.3 %

The company’s fifty day simple moving average is $33.70 and its 200-day simple moving average is $20.94.

Insiders Place Their Bets

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of Oklo 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 purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Large investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. acquired a new stake in Oklo in the fourth quarter worth about $27,000. CoreCap Advisors LLC acquired a new stake in shares of Oklo during the 4th quarter worth approximately $32,000. Sandy Spring Bank acquired a new stake in shares of Oklo during the 4th quarter worth approximately $32,000. Covestor Ltd bought a new stake in shares of Oklo during the fourth quarter worth approximately $34,000. Finally, Anfield Capital Management LLC acquired a new position in Oklo in the fourth quarter valued at 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.