Oklo (NYSE:OKLO) Stock Price Down 9.5% – What’s Next?

Oklo Inc. (NYSE:OKLO) dropped 9.5% on Tuesday . The company traded as low as $21.36 and last traded at $21.41. Approximately 7,071,056 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 6,317,277 shares. The stock had previously closed at $23.65.

Wall Street Analyst Weigh In

Several brokerages have commented on OKLO. B. Riley initiated coverage on Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective on the stock. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research note on Friday, September 6th. Citigroup reduced their price objective 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. Finally, Wedbush initiated coverage on shares of Oklo in a research report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price on the stock.

Oklo Stock Down 10.2 %

The company has a fifty day simple moving average of $21.64 and a 200-day simple moving average of $13.20.

Insider Activity

In other news, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction 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 $271,056,066.85. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC acquired a new position in Oklo in the 3rd quarter valued at about $58,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Oklo in the third quarter valued at approximately $94,000. Peapack Gladstone Financial Corp acquired a new position in shares of Oklo in the third quarter valued at approximately $100,000. Sanctuary Advisors LLC purchased a new stake in Oklo during the 3rd quarter worth approximately $100,000. Finally, MML Investors Services LLC purchased a new stake in Oklo during the 3rd quarter worth approximately $104,000. Hedge funds and other 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.