Oklo (NYSE:OKLO) Shares Down 13.7% – Time to Sell?

by · The Markets Daily

Oklo Inc. (NYSE:OKLO – Get Free Report)’s share price was down 13.7% during mid-day trading on Wednesday . The company traded as low as $25.38 and last traded at $25.45. Approximately 8,011,606 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 16,524,605 shares. The stock had previously closed at $29.50.

Analyst Ratings Changes

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

Read Our Latest Stock Analysis on Oklo

Oklo Price Performance

The company’s 50-day moving average is $22.14 and its two-hundred day moving average is $13.78.

Insider Activity

In related news, Director Richard Kinzley bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the sale, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kozak & Associates Inc. acquired a new stake in shares of Oklo in the fourth quarter valued at $57,000. Barclays PLC bought a new stake in Oklo in the third quarter worth about $58,000. Y Intercept Hong Kong Ltd acquired a new stake in Oklo in the 3rd quarter valued at about $94,000. Peapack Gladstone Financial Corp bought a new position in shares of Oklo during the 3rd quarter valued at about $100,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Oklo in the 3rd quarter worth approximately $100,000. 85.03% of the stock is owned by institutional investors.

About Oklo

(Get Free Report)

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.

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