Oklo (NYSE:OKLO) Stock Price Down 5.2% – Time to Sell?

Oklo Inc. (NYSE:OKLO) was down 5.2% during mid-day trading on Thursday . The company traded as low as $24.40 and last traded at $24.83. Approximately 3,584,946 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 18,663,906 shares. The stock had previously closed at $26.19.

Analyst Upgrades and Downgrades

OKLO has been the subject of several recent research reports. B. Riley raised their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Craig Hallum assumed coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Citigroup lifted their price objective 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. Finally, Wedbush increased their price target on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.50.

Oklo Stock Performance

The company has a 50-day moving average of $35.80 and a 200-day moving average of $22.88.

Insider Activity at Oklo

In other Oklo news, 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 transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kinzley bought 5,000 shares of the 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 completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Oklo by 1.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock worth $104,646,000 after purchasing an additional 74,315 shares during the period. Vanguard Group Inc. grew its holdings in Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after buying an additional 2,090,154 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new stake in Oklo during the third quarter worth approximately $19,753,000. Van ECK Associates Corp acquired a new position in Oklo in the fourth quarter valued at about $38,661,000. Finally, Atomi Financial Group Inc. bought a new stake in Oklo during the fourth quarter worth $19,285,000. Institutional investors 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.