Oklo (NYSE:OKLO) Trading Down 7.5% - Here's What Happened

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 7.5% during mid-day trading on Thursday . The company traded as low as $27.43 and last traded at $28.03. 5,575,815 shares were traded during mid-day trading, a decline of 71% from the average session volume of 19,340,100 shares. The stock had previously closed at $30.29.

Analyst Upgrades and Downgrades

Several research firms have commented on OKLO. Wedbush increased their price objective on shares of Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Citigroup increased their price target on Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, January 8th. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective on the stock. Finally, B. Riley raised their target price on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $44.50.

Oklo Stock Performance

The company's 50 day moving average price is $35.61 and its 200-day moving average price is $22.39.

Insiders Place Their Bets

In other Oklo news, Director Richard Kinzley bought 5,000 shares of the business's stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a 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 transaction of $4,982,596.09. Following the completion of the transaction, 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. Company insiders own 21.80% of the company's stock.

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Institutional Investors Weigh In On Oklo

Hedge funds and other institutional investors have recently bought and sold shares of the business. Portland Investment Counsel Inc. purchased a new position in shares of Oklo in the third quarter valued at $6,493,000. HITE Hedge Asset Management LLC bought a new position in Oklo in the 3rd quarter worth about $19,753,000. Atomi Financial Group Inc. purchased a new position in Oklo during the 4th quarter valued at about $19,285,000. Archford Capital Strategies LLC bought a new stake in shares of Oklo during the fourth quarter valued at about $212,000. Finally, Barclays PLC purchased a new stake in shares of Oklo in the third quarter worth about $58,000. 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.