Oklo (NYSE:OKLO) Shares Down 2.7% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) fell 2.7% on Monday . The company traded as low as $21.91 and last traded at $22.17. 3,121,693 shares were traded during mid-day trading, a decline of 50% from the average session volume of 6,290,245 shares. The stock had previously closed at $22.78.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OKLO shares. Seaport Res Ptn upgraded Oklo to a “hold” rating in a report on Friday, September 6th. Citigroup reduced their price target on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. B. Riley initiated coverage on shares of Oklo in a report on Thursday, September 19th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Wedbush began coverage on Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price for the company.

Oklo Stock Performance

The company’s fifty day simple moving average is $21.61 and its two-hundred day simple moving average is $13.02.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction dated 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 directly owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

A number of institutional investors and hedge funds have recently modified their holdings of the business. HITE Hedge Asset Management LLC bought a new position in Oklo in the 3rd quarter valued at $19,753,000. Portland Investment Counsel Inc. bought a new position in Oklo during the third quarter valued at about $6,493,000. Readystate Asset Management LP purchased a new stake in Oklo during the third quarter worth about $6,193,000. Geode Capital Management LLC bought a new stake in Oklo in the third quarter worth about $5,971,000. Finally, State Street Corp purchased a new position in Oklo in the third quarter valued at about $2,889,000. 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.