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

Oklo Inc. (NYSE:OKLO)’s stock price was down 3.6% during mid-day trading on Wednesday . The stock traded as low as $29.11 and last traded at $29.80. Approximately 4,702,665 shares were traded during trading, a decline of 76% from the average daily volume of 19,519,021 shares. The stock had previously closed at $30.92.

Wall Street Analysts Forecast Growth

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

Oklo Trading Up 1.1 %

The firm’s fifty day moving average is $35.54 and its 200-day moving average is $22.26.

Insider Activity

In related news, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $99,750. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owns 12,543,085 shares in the company, valued at $271,056,066.85. The trade was 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 corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Windmill Hill Asset Management Ltd bought a new position in Oklo in the 4th quarter valued at $1,476,000. Polar Asset Management Partners Inc. bought a new position in Oklo in the fourth quarter valued at about $781,000. Alpine Global Management LLC acquired a new stake in Oklo in the fourth quarter worth about $427,000. Value Aligned Research Advisors LLC bought a new stake in Oklo during the 4th quarter worth about $1,209,000. Finally, Gordian Capital Singapore Pte Ltd raised its holdings in Oklo by 1,058.3% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 6,000 shares of the company’s stock worth $127,000 after purchasing an additional 5,482 shares during the last quarter. Institutional investors own 85.03% of the company’s stock.

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.