Oklo (NYSE:OKLO) Stock Price Down 6.7% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price was down 6.7% on Friday . The company traded as low as $39.43 and last traded at $39.79. Approximately 4,757,612 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 20,512,799 shares. The stock had previously closed at $42.66.

Wall Street Analysts Forecast Growth

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

Oklo Stock Down 12.0 %

The firm has a fifty day simple moving average of $34.01 and a 200 day simple moving average of $21.13.

Insider Buying and Selling at Oklo

In other news, Director Richard Kinzley purchased 5,000 shares of the business'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 acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the company'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 value of $4,982,596.09. Following the completion of 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 trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company's stock.

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Institutional Investors Weigh In On Oklo

Several large investors have recently modified their holdings of OKLO. TD Waterhouse Canada Inc. bought a new stake in shares of Oklo in the 4th quarter valued at approximately $27,000. Sandy Spring Bank bought a new stake in shares of Oklo in the 4th quarter valued at approximately $32,000. CoreCap Advisors LLC bought a new stake in shares of Oklo in the 4th quarter valued at approximately $32,000. Covestor Ltd bought a new stake in shares of Oklo in the 4th quarter valued at approximately $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo in the 4th quarter valued at approximately $43,000. 85.03% of the stock is currently owned by 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.