Oklo (NYSE:OKLO) Trading Down 2.2% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) dropped 2.2% on Friday . The stock traded as low as $52.40 and last traded at $53.80. Approximately 6,990,067 shares were traded during trading, a decline of 68% from the average daily volume of 21,519,463 shares. The stock had previously closed at $55.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. B. Riley boosted their price target on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. 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 report on Friday, January 24th. Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Finally, Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Stock Performance

The business’s 50 day moving average price is $30.39 and its 200 day moving average price is $19.15.

Insiders Place Their Bets

In related news, Director Richard Kinzley bought 5,000 shares of the company’s stock in a transaction on 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 acquisition, the director now directly owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

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 during the 3rd quarter valued at approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Oklo during the third quarter worth $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Oklo in the third quarter valued at $104,000. Portland Investment Counsel Inc. acquired a new position in shares of Oklo in the 3rd quarter valued at $6,493,000. Finally, Atom Investors LP acquired a new position in shares of Oklo in the 3rd quarter valued at $657,000. 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.