Oklo (NYSE:OKLO) Shares Down 8.1% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price was down 8.1% during trading on Wednesday . The stock traded as low as $45.40 and last traded at $46.12. Approximately 6,523,356 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 21,009,426 shares. The stock had previously closed at $50.19.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OKLO shares. Wedbush increased their target price on Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Craig Hallum initiated coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 target price for the company. Citigroup lifted their price target 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, 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 research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.50.

Oklo Trading Down 12.0 %

The business has a 50-day moving average price of $34.01 and a 200 day moving average price of $21.13.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the business's 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 transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Kinzley bought 5,000 shares of the 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 acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by insiders.

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Institutional Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. DRW Securities LLC purchased a new stake in Oklo in the third quarter worth $404,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Oklo in the 3rd quarter worth about $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Oklo during the 3rd quarter valued at about $104,000. Portland Investment Counsel Inc. purchased a new stake in Oklo in the 3rd quarter valued at about $6,493,000. Finally, Atom Investors LP bought a new position in Oklo in the 3rd quarter worth about $657,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.