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

Oklo Inc. (NYSE:OKLO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $41.61, but opened at $38.69. Oklo shares last traded at $41.55, with a volume of 8,560,298 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OKLO shares. Citigroup raised their target price on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Wedbush lifted their price target on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Oklo Trading Up 1.9 %

The business has a 50-day moving average price of $26.06 and a 200-day moving average price of $17.15.

Insider Activity

In other news, CEO Jacob Dewitte sold 230,569 shares of the company’s 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 sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost 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 in the company, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Oklo in the 4th quarter valued at $1,208,000. ARK Investment Management LLC acquired a new position in Oklo during the 4th quarter valued at about $9,645,000. Matauro LLC bought a new position in shares of Oklo in the 4th quarter valued at about $638,000. Private Advisor Group LLC acquired a new stake in shares of Oklo during the 4th quarter worth approximately $2,839,000. Finally, TimesSquare Capital Management LLC acquired a new position in Oklo in the fourth quarter valued at approximately $17,104,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.