Oklo (NYSE:OKLO) Stock Price Down 10.1% - Time to Sell?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) fell 10.1% on Tuesday . The company traded as low as $29.82 and last traded at $30.65. 8,468,350 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 20,245,434 shares. The stock had previously closed at $34.08.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OKLO. B. Riley lifted 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. Citigroup lifted their price target 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. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price target for the company. Finally, Wedbush lifted their price target on shares of Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Oklo presently has a consensus rating of "Moderate Buy" and an average price target of $44.50.

Oklo Stock Up 3.1 %

The business's 50 day moving average is $35.08 and its 200-day moving average is $21.66.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 230,569 shares of the business'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 transaction of $4,982,596.09. Following the completion of the sale, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the transaction, 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 disclosure for this purchase can be found here. Insiders own 21.80% of the company's stock.

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Hedge Funds Weigh In On Oklo

Institutional investors have recently modified their holdings of the business. DRW Securities LLC acquired a new stake in Oklo during the 3rd quarter worth $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Oklo during the 3rd quarter worth $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Oklo during the 3rd quarter worth $104,000. Portland Investment Counsel Inc. acquired a new stake in Oklo during the 3rd quarter worth $6,493,000. Finally, Atom Investors LP acquired a new stake in Oklo during the 3rd quarter worth $657,000. 85.03% of the stock is 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.