Oklo (NYSE:OKLO) Trading Down 13.7% – What’s Next?

Oklo Inc. (NYSE:OKLO) dropped 13.7% during trading on Wednesday . The stock traded as low as $25.38 and last traded at $25.45. Approximately 8,011,606 shares changed hands during trading, a decline of 52% from the average daily volume of 16,524,605 shares. The stock had previously closed at $29.50.

Wall Street Analysts Forecast Growth

OKLO has been the subject of several analyst reports. B. Riley began coverage on Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective for the company. Citigroup increased their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wedbush initiated coverage on Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective for the company.

Oklo Price Performance

The stock has a 50-day moving average price of $22.36 and a 200 day moving average price of $14.06.

Insider Activity

In other news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was 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 $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard Kinzley purchased 5,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Institutional investors have recently modified their holdings of the company. Kozak & Associates Inc. acquired a new stake in Oklo in the fourth quarter worth about $57,000. Barclays PLC acquired a new stake in Oklo in the 3rd quarter valued at about $58,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Oklo during the 3rd quarter worth about $94,000. Peapack Gladstone Financial Corp acquired a new stake in shares of Oklo during the third quarter worth $100,000. Finally, Sanctuary Advisors LLC acquired a new position in Oklo in the 3rd quarter valued at $100,000. Institutional investors and hedge funds 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.