Oklo (NYSE:OKLO) Trading Down 8.1% – Here’s Why

Oklo Inc. (NYSE:OKLO) dropped 8.1% during mid-day trading on Wednesday . The stock traded as low as $45.40 and last traded at $46.12. Approximately 6,523,356 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 21,009,426 shares. The stock had previously closed at $50.19.

Analyst Ratings Changes

OKLO has been the topic of a number of research analyst reports. Wedbush increased their price target on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Craig Hallum initiated coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target on the stock. B. Riley increased their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Citigroup increased their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Trading Down 9.1 %

The company’s fifty day moving average is $33.30 and its 200 day moving average is $20.54.

Insider Activity at Oklo

In other Oklo news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction that occurred 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 acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly 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. 21.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

Large investors have recently added to or reduced their stakes in the company. Portland Investment Counsel Inc. bought a new stake in Oklo in the 3rd quarter worth $6,493,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo in the 3rd quarter worth about $19,753,000. Atomi Financial Group Inc. purchased a new stake in shares of Oklo in the 4th quarter worth about $19,285,000. Archford Capital Strategies LLC purchased a new stake in shares of Oklo in the 4th quarter worth about $212,000. Finally, Barclays PLC purchased a new stake in shares of Oklo in the 3rd quarter worth about $58,000. 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.