Oklo (NYSE:OKLO) Trading Down 3.5% – Should You Sell?

Oklo Inc. (NYSE:OKLO) was down 3.5% on Thursday . The company traded as low as $51.53 and last traded at $52.48. Approximately 5,299,392 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 21,791,596 shares. The stock had previously closed at $54.38.

Wall Street Analyst Weigh In

OKLO has been the topic of a number of research analyst reports. Craig Hallum assumed coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Wedbush lifted their price target on Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. B. Riley lifted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Oklo currently has an average 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 $29.69 and a 200 day moving average price of $18.90.

Insider Activity at Oklo

In related news, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated 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 owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the period. HITE Hedge Asset Management LLC bought a new stake in Oklo during the 3rd quarter valued at approximately $19,753,000. Van ECK Associates Corp bought a new stake in Oklo during the 4th quarter valued at approximately $38,661,000. Atomi Financial Group Inc. bought a new stake in Oklo during the 4th quarter valued at approximately $19,285,000. Finally, TimesSquare Capital Management LLC bought a new stake in Oklo during the 4th quarter valued at approximately $17,104,000. Hedge funds and other institutional investors 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.