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

Shares of Oklo Inc. (NYSE:OKLO) gapped down prior to trading 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.

Analysts Set New Price Targets

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

Oklo Trading Down 3.1 %

The company’s 50-day moving average is $22.29 and its 200 day moving average is $13.95.

Insider Activity

In related news, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

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

About Oklo

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.