Oklo (NYSE:OKLO) Stock Price Down 1.6% - What's Next?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price traded down 1.6% on Thursday . The stock traded as low as $33.00 and last traded at $34.62. 10,812,660 shares changed hands during trading, a decline of 46% from the average session volume of 20,201,350 shares. The stock had previously closed at $35.19.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup raised their price objective 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 started coverage on Oklo in a report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective for the company. B. Riley lifted their price objective on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Wedbush raised their target price on Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Oklo currently has an average rating of "Moderate Buy" and a consensus price target of $44.50.

Oklo Trading Up 3.1 %

The stock has a 50-day moving average price of $35.08 and a 200-day moving average price of $21.86.

Insider Activity

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

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Hedge Funds Weigh In On Oklo

Hedge funds have recently made changes to their positions in the business. Portland Investment Counsel Inc. purchased a new position in shares of Oklo during the third quarter valued at approximately $6,493,000. HITE Hedge Asset Management LLC purchased a new stake in Oklo in the third quarter worth $19,753,000. Atomi Financial Group Inc. bought a new stake in Oklo in the fourth quarter worth $19,285,000. Archford Capital Strategies LLC bought a new stake in Oklo in the fourth quarter worth $212,000. Finally, Barclays PLC bought a new stake in Oklo in the third quarter worth $58,000. 85.03% of the stock is 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.