Oklo (NYSE:OKLO) Trading Down 6.9% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s stock price traded down 6.9% during trading on Friday . The stock traded as low as $21.68 and last traded at $22.37. 6,319,978 shares changed hands during trading, an increase of 1% from the average session volume of 6,285,671 shares. The stock had previously closed at $24.04.

Analyst Ratings Changes

Several research firms have recently weighed in on OKLO. Seaport Res Ptn raised Oklo to a “hold” rating in a research note on Friday, September 6th. B. Riley started coverage on shares of Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective for the company. Wedbush started coverage on shares of Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price on the stock. Finally, Citigroup decreased their price target on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th.

Oklo Stock Performance

The business’s 50-day moving average price is $21.61 and its 200 day moving average price is $13.00.

Insiders Place Their Bets

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $4,982,596.09. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

Several institutional investors have recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC acquired a new position in Oklo during the 3rd quarter worth $19,753,000. Portland Investment Counsel Inc. acquired a new position in Oklo in the third quarter worth about $6,493,000. Readystate Asset Management LP acquired a new stake in Oklo during the third quarter valued at approximately $6,193,000. Geode Capital Management LLC bought a new position in Oklo during the 3rd quarter worth approximately $5,971,000. Finally, State Street Corp acquired a new position in shares of Oklo in the 3rd quarter worth approximately $2,889,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.