Oklo (NYSE:OKLO) Shares Down 3.6% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares dropped 3.6% during trading on Wednesday . The company traded as low as $29.11 and last traded at $29.80. Approximately 4,702,665 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 19,519,021 shares. The stock had previously closed at $30.92.

Analysts Set New Price Targets

Several research firms have issued reports on OKLO. Craig Hallum assumed coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. B. Riley lifted their price target on shares of 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 objective 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. Finally, Wedbush boosted their target price 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Oklo Price Performance

The stock has a fifty day moving average price of $35.37 and a two-hundred day moving average price of $22.18.

Insider Buying and Selling 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 stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $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 SEC, which is available at this link. Also, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. bought a new stake in Oklo in the fourth quarter valued at $27,000. Sandy Spring Bank bought a new stake in Oklo in the 4th quarter valued at about $32,000. CoreCap Advisors LLC acquired a new position in Oklo during the 4th quarter valued at about $32,000. Covestor Ltd acquired a new position in Oklo during the 4th quarter valued at about $34,000. Finally, Anfield Capital Management LLC bought a new position in Oklo in the 4th quarter worth about $43,000. 85.03% of the stock is currently 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.