Oklo (NYSE:OKLO) Shares Down 23.3% – Should You Sell?

Shares of Oklo Inc. (NYSE:OKLO) dropped 23.3% on Monday . The stock traded as low as $31.50 and last traded at $32.07. Approximately 23,334,761 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 18,490,805 shares. The stock had previously closed at $41.82.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on OKLO shares. Wedbush boosted their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup increased their target price 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.

Oklo Trading Down 25.6 %

The business has a fifty day moving average price of $23.69 and a two-hundred day moving average price of $15.62.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, Director Richard Kinzley bought 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now directly 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. 21.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of OKLO. Portland Investment Counsel Inc. purchased a new stake in Oklo in the 3rd quarter worth approximately $6,493,000. HITE Hedge Asset Management LLC acquired a new stake in Oklo during the 3rd quarter valued at approximately $19,753,000. Atomi Financial Group Inc. bought a new position in shares of Oklo during the fourth quarter worth about $19,285,000. Archford Capital Strategies LLC acquired a new position in Oklo in the fourth quarter worth $212,000. Finally, Barclays PLC acquired a new stake in Oklo during the third quarter worth about $58,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.