Oklo (NYSE:OKLO) Shares Down 1.5% – What’s Next?

Oklo Inc. (NYSE:OKLO) shares traded down 1.5% during mid-day trading on Friday . The company traded as low as $24.48 and last traded at $25.58. 5,386,339 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 19,165,238 shares. The stock had previously closed at $25.97.

Wall Street Analysts Forecast Growth

OKLO has been the topic of several recent analyst reports. B. Riley boosted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Craig Hallum initiated coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Citigroup lifted their price target on shares of 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 shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Oklo Stock Up 1.7 %

The company’s fifty day moving average price is $35.54 and its two-hundred day moving average price is $22.26.

Insider Transactions at Oklo

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated 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 sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This 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 insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently made changes to their positions in OKLO. HITE Hedge Asset Management LLC acquired a new stake in Oklo in the third quarter valued at $19,753,000. Vanguard Group Inc. lifted its stake in Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp bought a new position in Oklo during the fourth quarter worth about $38,661,000. Atomi Financial Group Inc. bought a new position in Oklo during the fourth quarter worth about $19,285,000. Finally, TimesSquare Capital Management LLC bought a new stake in Oklo in the fourth quarter valued at approximately $17,104,000. 85.03% of the stock is owned by 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.