Oklo (NYSE:OKLO) Trading Down 23.3% - What's Next?

Oklo Inc. (NYSE:OKLO - Get Free Report) fell 23.3% on Monday . The stock traded as low as $31.50 and last traded at $32.07. 23,334,761 shares changed hands during trading, an increase of 26% from the average session volume of 18,490,805 shares. The stock had previously closed at $41.82.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup upped their price objective on Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a report on Wednesday, January 8th. Craig Hallum initiated coverage on shares of Oklo in a research note on Tuesday. They issued a "buy" rating and a $44.00 price objective for the company. Finally, Wedbush increased 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Oklo currently has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Oklo Stock Performance

The stock's 50-day simple moving average is $25.10 and its two-hundred day simple moving average is $16.51.

Insider Buying and Selling

In other news, Director Richard Kinzley purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost 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. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

A number of large investors have recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Oklo during the 4th quarter worth about $240,000. Truist Financial Corp purchased a new stake in Oklo in the 4th quarter valued at about $227,000. Sanctuary Advisors LLC boosted its position in Oklo by 115.9% in the 4th quarter. Sanctuary Advisors LLC now owns 26,590 shares of the company's stock valued at $565,000 after buying an additional 14,272 shares during the period. KLCM Advisors Inc. purchased a new stake in Oklo in the 4th quarter valued at about $212,000. Finally, Tcfg Wealth Management LLC purchased a new stake in Oklo in the 4th quarter valued at about $450,000. 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.