Oklo (NYSE:OKLO) Trading Down 1.5% - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report) fell 1.5% during trading on Friday . The stock traded as low as $24.48 and last traded at $25.58. 5,386,339 shares were traded during mid-day trading, a decline of 72% from the average session volume of 19,165,238 shares. The stock had previously closed at $25.97.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Craig Hallum assumed coverage on Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price objective on the stock. B. Riley boosted their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Citigroup raised their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a report on Wednesday, January 8th. Finally, Wedbush boosted their target price 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 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $44.50.

Oklo Trading Up 1.1 %

The business's fifty day simple moving average is $35.61 and its two-hundred day simple moving average is $22.50.

Insider Activity at Oklo

In other news, Director Richard Kinzley acquired 5,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at $99,750. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction 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 transaction, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company's stock.

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Institutional Trading of Oklo

A number of large investors have recently bought and sold shares of OKLO. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo in the third quarter valued at about $19,753,000. Vanguard Group Inc. increased its position in Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after acquiring an additional 2,090,154 shares during the period. Van ECK Associates Corp acquired a new position in Oklo in the 4th quarter valued at about $38,661,000. Atomi Financial Group Inc. purchased a new stake in Oklo during the 4th quarter valued at approximately $19,285,000. Finally, TimesSquare Capital Management LLC acquired a new stake in Oklo during the 4th quarter worth approximately $17,104,000. Institutional investors and hedge funds 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.