Oklo (NYSE:OKLO) Trading Down 2.2% – Here’s Why

Oklo Inc. (NYSE:OKLO) was down 2.2% on Friday . The stock traded as low as $52.40 and last traded at $53.80. Approximately 6,990,067 shares changed hands during trading, a decline of 68% from the average daily volume of 21,519,463 shares. The stock had previously closed at $55.03.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on OKLO shares. B. Riley lifted their price objective 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 started coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. Citigroup increased their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Finally, Wedbush lifted their price objective on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Oklo Stock Down 4.5 %

The stock has a fifty day moving average of $31.00 and a 200-day moving average of $19.53.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was 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. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Kinzley bought 5,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Large investors have recently bought and sold shares of the business. JAT Capital Mgmt LP purchased a new stake in Oklo during the 4th quarter valued at approximately $14,798,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Oklo during the fourth quarter worth approximately $354,000. Northern Trust Corp lifted its holdings in shares of Oklo by 10.7% during the fourth quarter. Northern Trust Corp now owns 167,304 shares of the company’s stock worth $3,552,000 after purchasing an additional 16,222 shares during the period. Nebula Research & Development LLC increased its stake in Oklo by 18.7% in the 4th quarter. Nebula Research & Development LLC now owns 36,023 shares of the company’s stock valued at $765,000 after buying an additional 5,679 shares during the period. Finally, MGO One Seven LLC purchased a new position in Oklo during the 4th quarter worth $262,000. Institutional investors and hedge funds 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.