Oklo (NYSE:OKLO) Shares Gap Down – Here’s Why

Oklo Inc. (NYSE:OKLO) shares gapped down before the market opened on Wednesday . The stock had previously closed at $50.08, but opened at $47.78. Oklo shares last traded at $53.21, with a volume of 4,515,117 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OKLO shares. Craig Hallum assumed coverage on Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price for the company. B. Riley raised their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Citigroup increased their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Finally, Wedbush increased their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Oklo Trading Up 9.1 %

The stock’s 50-day moving average price is $29.01 and its 200-day moving average price is $18.65.

Insider Activity

In related news, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the transaction, 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. Corporate insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Large investors have recently modified their holdings of the stock. Sandy Spring Bank purchased a new position in Oklo in the fourth quarter worth about $32,000. Anfield Capital Management LLC bought a new position in shares of Oklo during the fourth quarter worth $43,000. AlphaQuest LLC purchased a new stake in shares of Oklo during the 4th quarter worth approximately $45,000. Kozak & Associates Inc. purchased a new position in Oklo in the fourth quarter worth about $57,000. Finally, Barclays PLC bought a new stake in shares of Oklo in the 3rd quarter valued at approximately $58,000. Institutional investors own 85.03% of the company’s stock.

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.