Oklo (NYSE:OKLO) Trading Down 9.2% – Time to Sell?

Oklo Inc. (NYSE:OKLO) shares were down 9.2% during trading on Monday . The stock traded as low as $34.01 and last traded at $35.21. Approximately 7,403,695 shares traded hands during trading, a decline of 64% from the average daily volume of 20,413,525 shares. The stock had previously closed at $38.79.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OKLO shares. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Citigroup raised 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. Craig Hallum began coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. Finally, Wedbush lifted their price objective on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Oklo presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Trading Down 12.9 %

The company’s 50 day moving average price is $33.70 and its 200 day moving average price is $20.94.

Insider Buying and Selling at Oklo

In related news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the business’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 value of $4,982,596.09. Following the completion of the transaction, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. The trade was 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 Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. purchased a new position in shares of Oklo in the 4th quarter valued at about $27,000. Sandy Spring Bank purchased a new stake in shares of Oklo during the fourth quarter worth about $32,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo during the fourth quarter worth approximately $32,000. Covestor Ltd purchased a new stake in shares of Oklo in the 4th quarter valued at approximately $34,000. Finally, Anfield Capital Management LLC acquired a new position in shares of Oklo in the 4th quarter worth approximately $43,000. 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.