Oklo (NYSE:OKLO) Stock Price Down 10.9% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) traded down 10.9% on Thursday . The company traded as low as $24.77 and last traded at $26.28. 15,761,227 shares traded hands during trading, a decline of 14% from the average session volume of 18,277,848 shares. The stock had previously closed at $29.50.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OKLO. B. Riley assumed coverage on Oklo in a research note on Thursday, September 19th. They set a “buy” rating and a $10.00 price objective for the company. Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wedbush assumed coverage on shares of Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective on the stock.

Oklo Price Performance

The firm has a 50-day moving average of $22.21 and a 200-day moving average of $13.86.

Insider Activity at Oklo

In other Oklo news, 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Kinzley bought 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, the director now 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 currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. DRW Securities LLC purchased a new stake in shares of Oklo in the 3rd quarter worth $404,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Oklo in the third quarter worth about $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Oklo in the third quarter worth about $104,000. Portland Investment Counsel Inc. purchased a new position in shares of Oklo during the 3rd quarter valued at about $6,493,000. Finally, Atom Investors LP bought a new position in shares of Oklo during the 3rd quarter valued at approximately $657,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.