Oklo (NYSE:OKLO) Shares Down 23.3% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s stock price was down 23.3% on Monday . The company traded as low as $31.50 and last traded at $32.07. Approximately 23,334,761 shares changed 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.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wedbush lifted their target price on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Citigroup lifted their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Finally, Craig Hallum assumed coverage on Oklo in a research report on Tuesday. They issued a “buy” rating and a $44.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Oklo Stock Up 9.4 %

The company has a fifty day moving average of $24.14 and a two-hundred day moving average of $15.97.

Insider Activity at Oklo

In other Oklo news, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Large investors have recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC bought a new stake in shares of Oklo during the third quarter valued at approximately $19,753,000. Atomi Financial Group Inc. acquired a new stake in Oklo in the 4th quarter valued at approximately $19,285,000. Portland Investment Counsel Inc. bought a new stake in Oklo during the 3rd quarter valued at $6,493,000. Readystate Asset Management LP acquired a new position in Oklo during the 3rd quarter worth $6,193,000. Finally, Geode Capital Management LLC bought a new position in shares of Oklo in the third quarter worth $5,971,000. 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.