Oklo (NYSE:OKLO) Shares Gap Down - Here's Why

Oklo Inc. (NYSE:OKLO - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $34.17, but opened at $32.14. Oklo shares last traded at $35.89, with a volume of 5,310,622 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wedbush upped their target price on Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday. Citigroup raised their price objective on shares of Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th.

Oklo Trading Up 8.0 %

The company has a 50 day simple moving average of $23.69 and a 200 day simple moving average of $15.51.

Insider Buying and Selling

In other news, 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 transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Kinzley bought 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 acquisition, the director now directly owns 5,000 shares in the company, 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 company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo in the 3rd quarter valued at approximately $19,753,000. Atomi Financial Group Inc. acquired a new position in shares of Oklo during the fourth quarter worth $19,285,000. Portland Investment Counsel Inc. purchased a new position in Oklo in the third quarter valued at $6,493,000. Readystate Asset Management LP acquired a new stake in Oklo in the third quarter valued at $6,193,000. Finally, Geode Capital Management LLC purchased a new stake in Oklo during the 3rd quarter worth about $5,971,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.