Oklo (NYSE:OKLO) Trading Down 9.2% - Here's Why

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) fell 9.2% during mid-day trading on Monday . The company traded as low as $34.01 and last traded at $35.21. 7,403,695 shares traded hands during trading, a decline of 64% from the average session volume of 20,413,525 shares. The stock had previously closed at $38.79.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OKLO shares. Craig Hallum began coverage on Oklo in a report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price target for the company. B. Riley raised 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 upped 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. Finally, Wedbush increased their price target on shares of Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.50.

Oklo Price Performance

The stock has a 50-day moving average of $34.61 and a 200-day moving average of $21.40.

Insider Buying and Selling at Oklo

In related news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company's stock, valued at $99,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction that occurred 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 sale, the chief executive officer now owns 12,543,085 shares of the company's stock, valued at approximately $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 Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. DRW Securities LLC purchased a new position in shares of Oklo in the 3rd quarter worth about $404,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Oklo in the 3rd quarter worth approximately $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Oklo in the 3rd quarter valued at $104,000. Portland Investment Counsel Inc. purchased a new position in Oklo in the 3rd quarter worth $6,493,000. Finally, Atom Investors LP bought a new stake in Oklo in the third quarter worth $657,000. 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.