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Oklo (NYSE:OKLO) Shares Gap Down - What's Next?

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Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $28.00, but opened at $27.00. Oklo shares last traded at $26.41, with a volume of 2,339,351 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OKLO. Craig Hallum began coverage on 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 raised their price target on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Wedbush raised their price target on Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, Citigroup raised their price target on Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $44.50.

Read Our Latest Stock Analysis on OKLO

Oklo Stock Down 7.1 %

The firm has a fifty day moving average price of $35.74 and a 200 day moving average price of $23.56.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction on 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 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. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at $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

Several hedge funds have recently bought and sold shares of the stock. Triton Wealth Management PLLC purchased a new position in Oklo during the fourth quarter worth $559,000. Windmill Hill Asset Management Ltd purchased a new position in Oklo during the fourth quarter worth $1,476,000. Polar Asset Management Partners Inc. purchased a new position in Oklo during the fourth quarter worth $781,000. Alpine Global Management LLC purchased a new position in Oklo during the fourth quarter worth $427,000. Finally, Value Aligned Research Advisors LLC purchased a new position in Oklo during the fourth quarter worth $1,209,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

About Oklo

(Get Free Report)

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.

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