Oklo (NYSE:OKLO) Trading Down 6.2% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report) shares were down 6.2% during trading on Tuesday . The stock traded as low as $25.75 and last traded at $26.26. Approximately 4,002,512 shares were traded during trading, a decline of 65% from the average daily volume of 11,573,881 shares. The stock had previously closed at $28.00.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. B. Riley boosted their target price on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Citigroup boosted their price target on Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. 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 report on Friday, January 24th. Finally, Craig Hallum assumed coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $44.50.

Oklo Stock Performance

The stock has a 50-day simple moving average of $35.74 and a 200 day simple moving average of $23.56.

Insider Buying and Selling

In other Oklo news, 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 in the company, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Kinzley acquired 5,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, with a total value of $99,750.00. Following the acquisition, the director now 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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Institutional Trading of Oklo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its position in Oklo by 5.7% in the 4th quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after purchasing an additional 416 shares in the last quarter. Ancora Advisors LLC lifted its stake in shares of Oklo by 18.2% in the 4th quarter. Ancora Advisors LLC now owns 4,610 shares of the company's stock valued at $98,000 after purchasing an additional 710 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in Oklo during the fourth quarter worth $27,000. CoreCap Advisors LLC acquired a new stake in Oklo during the fourth quarter valued at $32,000. Finally, Sandy Spring Bank purchased a new position in Oklo in the fourth quarter valued at $32,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.