Oklo (NYSE:OKLO) Stock Price Down 4.4% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s stock price fell 4.4% on Friday . The company traded as low as $24.40 and last traded at $24.98. 4,577,064 shares changed hands during trading, a decline of 71% from the average session volume of 15,905,613 shares. The stock had previously closed at $26.12.

Analyst Upgrades and Downgrades

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

Oklo Price Performance

The firm has a 50-day moving average of $22.29 and a 200-day moving average of $13.95.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 230,569 shares of the 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 completion of the transaction, the chief executive officer now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was acquired 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 of the company’s stock, valued at approximately $99,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of OKLO. Portland Investment Counsel Inc. purchased a new stake in shares of Oklo in the 3rd quarter valued at approximately $6,493,000. HITE Hedge Asset Management LLC acquired a new position in Oklo during the third quarter worth $19,753,000. State Street Corp purchased a new position in shares of Oklo during the third quarter worth $2,889,000. DRW Securities LLC acquired a new stake in shares of Oklo in the third quarter valued at $404,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Oklo in the 3rd quarter valued at $104,000. 85.03% of the stock is currently 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.