Oklo (NYSE:OKLO) Shares Down 7.1% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price traded down 7.1% during mid-day trading on Thursday . The stock traded as low as $40.30 and last traded at $41.93. 7,687,825 shares traded hands during trading, a decline of 63% from the average session volume of 20,871,680 shares. The stock had previously closed at $45.12.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. B. Riley raised their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Wedbush lifted their price objective on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Citigroup lifted their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Oklo Price Performance

The firm’s 50-day moving average is $33.70 and its 200-day moving average is $20.76.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The stock was 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 $99,750. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently bought and sold shares of OKLO. TD Waterhouse Canada Inc. purchased a new position in Oklo during the 4th quarter worth $27,000. Sandy Spring Bank purchased a new position in Oklo during the 4th quarter worth $32,000. CoreCap Advisors LLC purchased a new position in Oklo during the 4th quarter worth $32,000. Covestor Ltd purchased a new position in Oklo during the 4th quarter worth $34,000. Finally, Anfield Capital Management LLC purchased a new position in Oklo during the 4th quarter worth $43,000. 85.03% of the stock is owned by hedge funds and other 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.