Oklo (NYSE:OKLO) Stock Price Down 3.6% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) dropped 3.6% during trading on Thursday . The stock traded as low as $23.09 and last traded at $23.29. Approximately 4,210,724 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 13,838,272 shares. The stock had previously closed at $24.17.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wedbush assumed coverage on shares of Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price for the company. Citigroup lifted 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.

Oklo Trading Up 7.7 %

The business’s fifty day moving average price is $22.48 and its 200-day moving average price is $14.59.

Insider Buying and Selling at Oklo

In other news, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. Secure Asset Management LLC bought a new stake in shares of Oklo in the 4th quarter worth approximately $1,403,000. Janney Montgomery Scott LLC bought a new position in shares of Oklo in the fourth quarter worth $617,000. Atomi Financial Group Inc. purchased a new position in shares of Oklo in the fourth quarter valued at $19,285,000. Joule Financial LLC purchased a new stake in Oklo during the 4th quarter worth about $1,963,000. Finally, Hamilton Lane Advisors LLC bought a new position in Oklo in the 4th quarter worth about $2,182,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.