Oklo (NYSE:OKLO) Shares Gap Down – Here’s What Happened

Oklo Inc. (NYSE:OKLO) gapped down prior to trading on Thursday . The stock had previously closed at $34.17, but opened at $32.14. Oklo shares last traded at $35.89, with a volume of 5,310,622 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OKLO shares. Citigroup raised their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Wedbush raised their target price on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday.

Oklo Stock Up 8.0 %

The firm’s 50 day moving average is $23.69 and its two-hundred day moving average is $15.51.

Insider Transactions at Oklo

In other Oklo news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the 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 in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by company insiders.

Institutional Trading of Oklo

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. HITE Hedge Asset Management LLC bought a new position in Oklo during the 3rd quarter worth $19,753,000. Atomi Financial Group Inc. bought a new position in Oklo during the fourth quarter worth about $19,285,000. Portland Investment Counsel Inc. acquired a new stake in Oklo in the 3rd quarter worth about $6,493,000. Readystate Asset Management LP bought a new stake in Oklo in the 3rd quarter valued at about $6,193,000. Finally, Geode Capital Management LLC acquired a new position in shares of Oklo during the 3rd quarter worth approximately $5,971,000. Institutional investors own 85.03% of the company’s stock.

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.