Oklo (NYSE:OKLO) Shares Down 2.5% – Should You Sell?

Shares of Oklo Inc. (NYSE:OKLO) dropped 2.5% on Friday . The company traded as low as $26.15 and last traded at $27.06. Approximately 2,799,059 shares traded hands during trading, a decline of 76% from the average daily volume of 11,551,108 shares. The stock had previously closed at $27.77.

Analyst Ratings Changes

A number of brokerages have commented on OKLO. B. Riley upped their price objective on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Craig Hallum began coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective on the stock. Citigroup upped 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 upped 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Oklo currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Price Performance

The firm has a 50 day moving average price of $35.81 and a two-hundred day moving average price of $23.62.

Insider Buying and Selling

In other news, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction on 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 acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.80% of the stock is currently owned by insiders.

Institutional Trading of Oklo

A number of hedge funds have recently bought and sold shares of OKLO. TD Waterhouse Canada Inc. purchased a new stake in Oklo in the fourth quarter worth $27,000. Sandy Spring Bank purchased a new stake in Oklo in the fourth quarter worth $32,000. CoreCap Advisors LLC purchased a new stake in Oklo in the fourth quarter worth $32,000. Covestor Ltd purchased a new stake in Oklo in the fourth quarter worth $34,000. Finally, Anfield Capital Management LLC purchased a new stake in Oklo in the fourth quarter worth $43,000. 85.03% of the stock is currently owned by institutional investors.

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.