Oklo (NYSE:OKLO) Trading Down 3.6% - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price fell 3.6% during trading on Wednesday . The company traded as low as $29.11 and last traded at $29.80. 4,702,665 shares changed hands during trading, a decline of 76% from the average session volume of 19,519,021 shares. The stock had previously closed at $30.92.

Wall Street Analyst Weigh In

A number of brokerages have commented on OKLO. Citigroup upped their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 8th. Craig Hallum began coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price objective for the company. B. Riley upped their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Wedbush upped their price objective on shares of Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $44.50.

Oklo Price Performance

The company's 50-day moving average is $35.61 and its 200-day moving average is $22.50.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo 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. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Kinzley purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was bought 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 of the company's stock, 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 insiders.

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Hedge Funds Weigh In On Oklo

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Oklo by 5.7% in the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after purchasing an additional 416 shares during the period. Ancora Advisors LLC boosted its holdings in Oklo by 18.2% in the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company's stock worth $98,000 after purchasing an additional 710 shares during the period. TD Waterhouse Canada Inc. acquired a new position in Oklo in the fourth quarter worth $27,000. CoreCap Advisors LLC acquired a new position in Oklo in the fourth quarter worth $32,000. Finally, Sandy Spring Bank acquired a new position in Oklo in the fourth quarter worth $32,000. Institutional investors and hedge funds 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.