Oklo (NYSE:OKLO) Shares Gap Down - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $38.79, but opened at $37.17. Oklo shares last traded at $34.61, with a volume of 5,911,098 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on OKLO. Citigroup increased 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. Craig Hallum began coverage on Oklo in a research report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 target price for the company. B. Riley raised their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Wedbush raised their price objective 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $44.50.

Oklo Stock Performance

The stock has a 50-day moving average price of $35.08 and a 200-day moving average price of $21.66.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 230,569 shares of the company's 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 sale, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. This represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Kinzley bought 5,000 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now directly owns 5,000 shares of the company's stock, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company's stock.

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Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently modified their holdings of OKLO. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo during the 3rd quarter valued at $19,753,000. Vanguard Group Inc. increased its stake in Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. Van ECK Associates Corp bought a new stake in Oklo in the fourth quarter valued at $38,661,000. Atomi Financial Group Inc. bought a new stake in Oklo in the fourth quarter valued at $19,285,000. Finally, TimesSquare Capital Management LLC bought a new stake in Oklo in the fourth quarter valued at $17,104,000. 85.03% of the stock is currently owned by 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.