Oklo (NYSE:OKLO) Shares Down 2.5% - Should You Sell?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 2.5% during trading on Monday . The company traded as low as $31.51 and last traded at $32.55. 5,319,367 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 19,836,010 shares. The stock had previously closed at $33.39.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. B. Riley lifted their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. 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. Craig Hallum assumed 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, 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Oklo presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.50.

Oklo Trading Down 14.4 %

The firm's 50-day moving average is $35.54 and its 200-day moving average is $22.26.

Insider Activity at Oklo

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 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 directly owns 12,543,085 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Kinzley bought 5,000 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company's stock, valued at $99,750. This trade represents 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.

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Hedge Funds Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in OKLO. TD Waterhouse Canada Inc. purchased a new position in Oklo during the fourth quarter valued at approximately $27,000. Sandy Spring Bank purchased a new position in Oklo during the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC purchased a new position in Oklo during the fourth quarter valued at approximately $32,000. Covestor Ltd purchased a new position in Oklo during the fourth quarter valued at approximately $34,000. Finally, Anfield Capital Management LLC purchased a new position in Oklo during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

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.