Oklo (NYSE:OKLO) Stock Price Down 10.1% – Time to Sell?

Shares of Oklo Inc. (NYSE:OKLO) fell 10.1% during trading on Tuesday . The stock traded as low as $29.82 and last traded at $30.65. 8,468,350 shares traded hands during trading, a decline of 58% from the average session volume of 20,245,434 shares. The stock had previously closed at $34.08.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wedbush increased their price objective on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. B. Riley raised their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Citigroup boosted their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Finally, Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Down 9.6 %

The company has a fifty day moving average of $34.01 and a 200-day moving average of $21.13.

Insider Activity

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred on 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 owns 12,543,085 shares in the company, valued at $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost 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 in the company, 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.

Hedge Funds Weigh In On Oklo

Several large investors have recently bought and sold shares of OKLO. Polar Asset Management Partners Inc. acquired a new position in shares of Oklo during the 4th quarter worth about $781,000. Alpine Global Management LLC purchased a new position in Oklo in the fourth quarter valued at approximately $427,000. Value Aligned Research Advisors LLC acquired a new stake in Oklo during the fourth quarter worth approximately $1,209,000. Gordian Capital Singapore Pte Ltd lifted its position in shares of Oklo by 1,058.3% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 6,000 shares of the company’s stock worth $127,000 after buying an additional 5,482 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Oklo by 358.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,069 shares of the company’s stock valued at $1,254,000 after buying an additional 46,188 shares during the last quarter. Hedge funds and other 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.