Oklo (NYSE:OKLO) Stock Price Down 10.9% – Should You Sell?

Oklo Inc. (NYSE:OKLO) traded down 10.9% on Thursday . The stock traded as low as $24.77 and last traded at $26.28. 15,761,227 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 18,277,848 shares. The stock had previously closed at $29.50.

Wall Street Analyst Weigh In

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

Oklo Stock Down 3.1 %

The business has a fifty day moving average of $22.36 and a 200 day moving average of $14.06.

Insider Activity

In other news, Director Richard Kinzley purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, 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. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

A number of institutional investors and hedge funds have recently modified their holdings of OKLO. Kozak & Associates Inc. acquired a new position in Oklo during the 4th quarter valued at approximately $57,000. Barclays PLC acquired a new position in shares of Oklo during the third quarter valued at $58,000. Y Intercept Hong Kong Ltd bought a new position in shares of Oklo during the third quarter worth about $94,000. Peapack Gladstone Financial Corp acquired a new stake in shares of Oklo in the 3rd quarter worth about $100,000. Finally, Sanctuary Advisors LLC bought a new stake in Oklo in the 3rd quarter valued at about $100,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.