Oklo (NYSE:OKLO) Shares Down 7.7% on Insider Selling

Oklo Inc. (NYSE:OKLO)’s share price was down 7.7% during mid-day trading on Monday following insider selling activity. The stock traded as low as $19.41 and last traded at $19.87. Approximately 6,770,159 shares traded hands during trading, an increase of 9% from the average daily volume of 6,199,825 shares. The stock had previously closed at $21.52.

Specifically, CEO Jacob Dewitte sold 230,569 shares of the company’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 of the company’s stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of research reports. Citigroup lowered their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Wedbush began coverage on shares of Oklo in a research report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target on the stock. B. Riley started coverage on Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a research note on Friday, September 6th.

Oklo Stock Performance

The company’s 50 day moving average price is $21.21 and its 200-day moving average price is $12.73.

Institutional Investors Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the stock. DRW Securities LLC bought a new stake in Oklo during the 3rd quarter worth approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Oklo in the third quarter worth $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Oklo during the third quarter valued at $104,000. Portland Investment Counsel Inc. purchased a new position in Oklo during the third quarter worth about $6,493,000. Finally, Atom Investors LP bought a new position in Oklo in the 3rd quarter worth about $657,000. 85.03% of the stock is currently owned by institutional investors.

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.