Oklo (NYSE:OKLO) Stock Price Down 9.5% – Time to Sell?

Shares of Oklo Inc. (NYSE:OKLO) dropped 9.5% during trading on Tuesday . The company traded as low as $21.36 and last traded at $21.41. Approximately 7,071,056 shares changed hands during trading, an increase of 12% from the average daily volume of 6,317,277 shares. The stock had previously closed at $23.65.

Analyst Ratings Changes

OKLO has been the subject of a number of recent analyst reports. Seaport Res Ptn raised Oklo to a “hold” rating in a report on Friday, September 6th. B. Riley started coverage on shares of Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target on the stock. Wedbush began coverage on shares of Oklo in a research report on Thursday, December 19th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Citigroup dropped their target price on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th.

Oklo Stock Performance

The business has a 50 day moving average of $21.64 and a 200-day moving average of $13.20.

Insider Buying and Selling

In other news, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OKLO. Portland Investment Counsel Inc. purchased a new stake in Oklo during the third quarter worth $6,493,000. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo during the 3rd quarter worth $19,753,000. DRW Securities LLC purchased a new stake in shares of Oklo in the 3rd quarter worth about $404,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Oklo in the 3rd quarter valued at about $104,000. Finally, State Street Corp purchased a new stake in shares of Oklo in the third quarter valued at about $2,889,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.