Oklo (NYSE:OKLO) Stock Price Down 9.1% – Time to Sell?

Oklo Inc. (NYSE:OKLO) dropped 9.1% during trading on Monday . The stock traded as low as $23.49 and last traded at $23.89. Approximately 4,161,531 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 19,008,266 shares. The stock had previously closed at $26.27.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of research 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 research note on Friday, January 24th. Citigroup raised their target price on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. B. Riley boosted their price target on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Oklo Trading Down 9.6 %

The stock’s fifty day moving average price is $35.61 and its 200 day moving average price is $22.61.

Insiders Place Their Bets

In other news, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.61, for a total value of $4,982,596.09. Following 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 represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

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