Oklo (NYSE:OKLO) Shares Down 4.4% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 4.4% during trading on Friday . The company traded as low as $24.40 and last traded at $24.98. Approximately 4,577,064 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 15,905,613 shares. The stock had previously closed at $26.12.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup boosted their target price on Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday. B. Riley began coverage on shares of Oklo in a research report on Thursday, September 19th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, Wedbush began coverage on shares of Oklo in a report on Thursday, December 19th. They issued an "outperform" rating and a $26.00 target price for the company.

Oklo Trading Down 3.1 %

The stock has a 50 day moving average of $22.29 and a 200-day moving average of $13.95.

Insiders Place Their Bets

In related news, Director Richard Kinzley purchased 5,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, the director now owns 5,000 shares of the company's stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $4,982,596.09. Following the completion of the sale, the chief executive officer now owns 12,543,085 shares of the company's stock, valued at $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company's stock.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently made changes to their positions in OKLO. Kozak & Associates Inc. purchased a new stake in Oklo in the fourth quarter worth about $57,000. Barclays PLC purchased a new stake in shares of Oklo in the 3rd quarter worth approximately $58,000. Y Intercept Hong Kong Ltd bought a new position in shares of Oklo during the third quarter valued at approximately $94,000. Peapack Gladstone Financial Corp purchased a new position in Oklo during the third quarter valued at approximately $100,000. Finally, Sanctuary Advisors LLC bought a new position in Oklo in the third quarter worth approximately $100,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

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.