Oklo (NYSE:OKLO) Trading Down 3.4% - Should You Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 3.4% during trading on Tuesday . The company traded as low as $49.68 and last traded at $50.83. Approximately 6,565,754 shares were traded during trading, a decline of 69% from the average daily volume of 21,307,885 shares. The stock had previously closed at $52.62.

Analyst Ratings Changes

OKLO has been the subject of a number of analyst reports. Wedbush lifted their price objective on Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Citigroup lifted their price objective on Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. B. Riley lifted their price objective on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, Craig Hallum assumed coverage on Oklo in a research note on Tuesday, January 28th. They set a "buy" rating and a $44.00 price objective for the company. Two 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 a consensus rating of "Moderate Buy" and an average target price of $44.50.

Oklo Stock Performance

The company has a fifty day simple moving average of $33.30 and a two-hundred day simple moving average of $20.54.

Insider Activity

In related news, Director Richard Kinzley bought 5,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the company's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company's stock.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alpine Global Management LLC acquired a new position in Oklo during the fourth quarter worth approximately $427,000. Value Aligned Research Advisors LLC acquired a new position in Oklo during the fourth quarter worth approximately $1,209,000. Gordian Capital Singapore Pte Ltd increased its position in Oklo by 1,058.3% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 6,000 shares of the company's stock worth $127,000 after buying an additional 5,482 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Oklo by 358.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,069 shares of the company's stock worth $1,254,000 after buying an additional 46,188 shares during the last quarter. Finally, Temasek Holdings Private Ltd acquired a new position in Oklo during the fourth quarter worth approximately $5,447,000. 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.