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

Shares of Oklo Inc. (NYSE:OKLO) gapped down before the market opened on Tuesday . The stock had previously closed at $28.00, but opened at $27.00. Oklo shares last traded at $26.41, with a volume of 2,339,351 shares traded.

Wall Street Analyst Weigh In

OKLO has been the subject of several research analyst reports. Citigroup increased their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Craig Hallum assumed coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. B. Riley increased their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. 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 research 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 company’s stock. According to MarketBeat, Oklo has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Performance

The company’s 50-day moving average price is $35.78 and its 200-day moving average price is $23.59.

Insider Activity at Oklo

In other news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Triton Wealth Management PLLC acquired a new stake in Oklo during the fourth quarter worth approximately $559,000. Windmill Hill Asset Management Ltd acquired a new stake in Oklo during the fourth quarter worth approximately $1,476,000. Polar Asset Management Partners Inc. acquired a new stake in Oklo during the fourth quarter worth approximately $781,000. Alpine Global Management LLC acquired a new stake in Oklo during the fourth quarter worth approximately $427,000. Finally, Value Aligned Research Advisors LLC acquired a new stake in Oklo during the fourth quarter worth approximately $1,209,000. Institutional investors and hedge funds 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.