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

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price gapped down before the market opened 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.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OKLO shares. Wedbush lifted 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. Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They issued a "buy" rating and a $44.00 target price on the stock. B. Riley boosted their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Citigroup raised their price target on shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, Oklo currently has a consensus rating of "Moderate Buy" and an average price target of $44.50.

Oklo Price Performance

The stock has a 50-day moving average price of $34.61 and a two-hundred day moving average price of $21.40.

Insiders Place Their Bets

In other news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares of the company's stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the sale, the chief executive officer now directly owns 12,543,085 shares of the company's stock, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company's stock.

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Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in Oklo in the 4th quarter worth approximately $27,000. Sandy Spring Bank purchased a new stake in shares of Oklo in the 4th quarter valued at $32,000. CoreCap Advisors LLC acquired a new stake in shares of Oklo in the fourth quarter worth $32,000. Covestor Ltd purchased a new position in shares of Oklo during the fourth quarter worth $34,000. Finally, Anfield Capital Management LLC acquired a new position in Oklo during the fourth quarter valued at $43,000. 85.03% of the stock is currently owned by hedge funds and other 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.