Oklo (NYSE:OKLO) Shares Gap Down – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $50.08, but opened at $47.78. Oklo shares last traded at $53.21, with a volume of 4,515,117 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on OKLO shares. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Craig Hallum began coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. Citigroup raised their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Finally, Wedbush raised their price objective on Oklo from $26.00 to $45.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Trading Up 1.2 %

The stock’s fifty day simple moving average is $30.39 and its two-hundred day simple moving average is $19.15.

Insider Activity

In related news, Director Richard Kinzley purchased 5,000 shares of the firm’s stock in a transaction dated 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 owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, 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 shares were 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 directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in 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 buying an additional 2,090,154 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in Oklo during the third quarter worth $19,753,000. Van ECK Associates Corp bought a new position in Oklo during the fourth quarter worth $38,661,000. Atomi Financial Group Inc. acquired a new position in Oklo in the fourth quarter valued at approximately $19,285,000. Finally, TimesSquare Capital Management LLC acquired a new position in Oklo in the fourth quarter valued at approximately $17,104,000. 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.