Oklo (NYSE:OKLO) Shares Gap Down - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $50.08, but opened at $47.78. Oklo shares last traded at $53.21, with a volume of 4,515,117 shares trading hands.

Analysts Set New Price Targets

OKLO has been the topic of several research reports. Citigroup lifted 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. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price target on the stock. Wedbush lifted their price target on Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Finally, B. Riley lifted their price target on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $44.50.

Oklo Stock Down 4.5 %

The company has a fifty day simple moving average of $31.00 and a 200 day simple moving average of $19.46.

Insider Transactions at Oklo

In other Oklo news, Director Richard Kinzley purchased 5,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 12,543,085 shares of the company's stock, valued at $271,056,066.85. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.80% of the company's stock.

Institutional Trading of Oklo

Hedge funds have recently bought and sold shares of the company. Portland Investment Counsel Inc. purchased a new stake in Oklo during the third quarter valued at $6,493,000. HITE Hedge Asset Management LLC purchased a new stake in Oklo during the third quarter valued at $19,753,000. Atomi Financial Group Inc. purchased a new stake in Oklo during the fourth quarter valued at $19,285,000. Archford Capital Strategies LLC purchased a new stake in Oklo during the fourth quarter valued at $212,000. Finally, Barclays PLC purchased a new stake in Oklo during the third quarter valued at $58,000. 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.