Oklo (NYSE:OKLO) Shares Down 3.4% – Time to Sell?

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

Analyst Ratings Changes

A number of research firms have weighed in on OKLO. Craig Hallum began coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Citigroup upped their price target on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. B. Riley raised their price objective on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Wedbush upped their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Down 4.8 %

The business has a 50 day moving average price of $32.29 and a 200 day moving average price of $20.21.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents 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.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently bought and sold shares of OKLO. TD Waterhouse Canada Inc. purchased a new stake in shares of Oklo during the 4th quarter valued at about $27,000. Sandy Spring Bank bought a new position in Oklo during the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC purchased a new stake in Oklo in the fourth quarter worth approximately $32,000. Covestor Ltd bought a new stake in Oklo in the 4th quarter worth approximately $34,000. Finally, Anfield Capital Management LLC purchased a new stake in Oklo during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.