Oklo (NYSE:OKLO) Stock Price Down 9.6% – Here’s Why

Oklo Inc. (NYSE:OKLO) fell 9.6% on Monday . The company traded as low as $22.37 and last traded at $22.81. 4,456,132 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 14,897,709 shares. The stock had previously closed at $25.24.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OKLO shares. Wedbush started coverage on shares of Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price for the company. B. Riley began coverage on Oklo in a research note on Thursday, September 19th. They set a “buy” rating and a $10.00 target price for the company. Finally, Citigroup lifted their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th.

Oklo Trading Up 6.1 %

The firm’s 50 day simple moving average is $22.44 and its two-hundred day simple moving average is $14.33.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 acquisition, the director now directly 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 owned by company insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kozak & Associates Inc. purchased a new stake in shares of Oklo during the 4th quarter worth about $57,000. Wolff Wiese Magana LLC acquired a new position in shares of Oklo during the 4th quarter worth $99,000. Barclays PLC bought a new position in shares of Oklo during the 3rd quarter valued at $58,000. Y Intercept Hong Kong Ltd bought a new position in shares of Oklo during the 3rd quarter valued at $94,000. Finally, Peapack Gladstone Financial Corp bought a new stake in Oklo in the third quarter worth $100,000. 85.03% of the stock is currently owned by hedge funds and other 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.