Oklo (NYSE:OKLO) Stock Price Down 3.4% - Should You Sell?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) dropped 3.4% on Tuesday . The stock traded as low as $49.68 and last traded at $50.83. Approximately 6,565,754 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 21,307,885 shares. The stock had previously closed at $52.62.

Analysts Set New Price Targets

OKLO has been the topic of several analyst reports. Wedbush lifted their target price on Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price target on the stock. B. Riley lifted their price target on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Citigroup lifted their price target on Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.50.

Oklo Stock Down 9.1 %

The stock has a 50 day moving average of $33.70 and a two-hundred day moving average of $20.85.

Insider Activity at Oklo

In other news, Director Richard Kinzley bought 5,000 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $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 through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the business'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 sale, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company's stock.

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Institutional Trading of Oklo

A number of institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Oklo by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company's stock worth $104,646,000 after purchasing an additional 74,315 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock worth $92,216,000 after acquiring an additional 2,090,154 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo in the third quarter worth $19,753,000. Van ECK Associates Corp acquired a new position in shares of Oklo in the fourth quarter worth $38,661,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Oklo in the fourth quarter worth $19,285,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.