Oklo (NYSE:OKLO) Trading Down 3.5% - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report) was down 3.5% on Thursday . The company traded as low as $51.53 and last traded at $52.48. Approximately 5,299,392 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 21,791,596 shares. The stock had previously closed at $54.38.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OKLO shares. B. Riley boosted their target price on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Craig Hallum started coverage on Oklo in a research note on Tuesday, January 28th. They issued a "buy" rating and a $44.00 target price for the company. Wedbush boosted their target price on Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Finally, Citigroup boosted their target price on Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $44.50.

Oklo Trading Down 4.5 %

The business has a fifty day moving average of $31.00 and a 200-day moving average of $19.53.

Insider Activity at Oklo

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo in the 3rd quarter worth approximately $19,753,000. Vanguard Group Inc. grew its stake in shares of Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock worth $92,216,000 after buying an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Oklo in the 4th quarter worth approximately $38,661,000. Atomi Financial Group Inc. purchased a new stake in shares of Oklo in the 4th quarter worth approximately $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Oklo in the 4th quarter worth approximately $17,104,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

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.