Oklo (NYSE:OKLO) Stock Price Down 3.6% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares dropped 3.6% during trading on Thursday . The company traded as low as $23.09 and last traded at $23.29. Approximately 4,210,724 shares changed hands during trading, a decline of 70% from the average daily volume of 13,838,272 shares. The stock had previously closed at $24.17.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OKLO. Citigroup upped their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Wedbush assumed coverage on Oklo in a report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target on the stock.

Oklo Trading Up 7.7 %

The stock has a fifty day moving average of $22.48 and a two-hundred day moving average of $14.59.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction 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 transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Portland Investment Counsel Inc. purchased a new stake in Oklo during the 3rd quarter valued at $6,493,000. HITE Hedge Asset Management LLC bought a new stake in shares of Oklo in the third quarter worth about $19,753,000. State Street Corp purchased a new position in Oklo during the 3rd quarter valued at about $2,889,000. DRW Securities LLC bought a new position in Oklo during the 3rd quarter valued at approximately $404,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Oklo in the 3rd quarter worth approximately $104,000. 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.