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

Oklo Inc. (NYSE:OKLO) shares gapped down before the market opened on Wednesday . The stock had previously closed at $29.50, but opened at $27.74. Oklo shares last traded at $26.63, with a volume of 3,301,492 shares trading hands.

Wall Street Analyst Weigh In

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

Oklo Stock Performance

The business has a 50-day moving average price of $22.14 and a 200 day moving average price of $13.78.

Insider Transactions at Oklo

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

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC bought a new position in Oklo during the 3rd quarter valued at about $19,753,000. Portland Investment Counsel Inc. bought a new stake in Oklo during the 3rd quarter worth about $6,493,000. Readystate Asset Management LP bought a new stake in shares of Oklo during the third quarter worth approximately $6,193,000. Geode Capital Management LLC acquired a new position in shares of Oklo in the 3rd quarter valued at $5,971,000. Finally, State Street Corp bought a new position in Oklo during the third quarter worth about $2,889,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.