Oklo (NYSE:OKLO) Trading Down 1.6% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price fell 1.6% during mid-day trading on Thursday . The company traded as low as $33.00 and last traded at $34.62. 10,812,660 shares were traded during trading, a decline of 46% from the average session volume of 20,201,350 shares. The stock had previously closed at $35.19.

Analyst Ratings Changes

A number of research firms have recently issued reports on OKLO. Citigroup upped their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price for the company. B. Riley upped their target price 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, Wedbush upped their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Price Performance

The stock’s fifty day moving average is $35.08 and its 200-day moving average is $21.66.

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 stock in a transaction dated 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 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 trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Oklo by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock worth $104,646,000 after purchasing an additional 74,315 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Oklo during the third quarter worth about $19,753,000. Van ECK Associates Corp acquired a new stake in shares of Oklo during the fourth quarter worth about $38,661,000. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Oklo during the fourth quarter worth about $19,285,000. 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.