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

Shares of Oklo Inc. (NYSE:OKLO) gapped down prior to trading on Wednesday . The stock had previously closed at $29.50, but opened at $27.74. Oklo shares last traded at $26.63, with a volume of 3,301,492 shares trading hands.

Analyst Upgrades and Downgrades

OKLO has been the topic of a number of research reports. Citigroup raised their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday. B. Riley began coverage on Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Wedbush assumed coverage on Oklo in a research note on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective on the stock.

Oklo Stock Down 3.1 %

The firm’s fifty day simple moving average is $22.29 and its two-hundred day simple moving average is $13.95.

Insider Activity at Oklo

In related news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was 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 directly owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 12,543,085 shares in the company, 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. 21.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OKLO. DRW Securities LLC acquired a new stake in Oklo in the third quarter valued at $404,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Oklo during the third quarter worth approximately $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Oklo in the third quarter valued at approximately $104,000. Portland Investment Counsel Inc. purchased a new position in Oklo in the third quarter valued at approximately $6,493,000. Finally, Atom Investors LP acquired a new stake in Oklo during the third quarter worth approximately $657,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.