Oklo (NYSE:OKLO) Stock Price Down 4.4% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares dropped 4.4% during mid-day trading on Friday . The company traded as low as $24.40 and last traded at $24.98. Approximately 4,577,064 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 15,905,613 shares. The stock had previously closed at $26.12.

Analyst Upgrades and Downgrades

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

Oklo Price Performance

The firm has a 50-day moving average price of $22.29 and a 200-day moving average price of $13.95.

Insider Transactions at Oklo

In related news, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at $99,750. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction that occurred 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 owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Several large investors have recently modified their holdings of OKLO. Kozak & Associates Inc. purchased a new stake in shares of Oklo in the 4th quarter worth $57,000. Barclays PLC purchased a new stake in Oklo in the third quarter worth about $58,000. Y Intercept Hong Kong Ltd purchased a new stake in Oklo in the third quarter worth about $94,000. Sanctuary Advisors LLC bought a new position in shares of Oklo in the third quarter worth about $100,000. Finally, Peapack Gladstone Financial Corp purchased a new position in shares of Oklo during the 3rd quarter valued at about $100,000. Institutional investors own 85.03% of the company’s stock.

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.