Oklo (NYSE:OKLO) Shares Gap Down – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) gapped down prior to trading on Wednesday . The stock had previously closed at $29.50, but opened at $27.74. Oklo shares last traded at $26.63, with a volume of 3,301,492 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wedbush assumed coverage on shares of Oklo in a report on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price for the company. Citigroup raised their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, B. Riley began coverage on Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price on the stock.

Oklo Trading Down 12.0 %

The company has a fifty day simple moving average of $22.14 and a two-hundred day simple moving average of $13.78.

Insider Activity at Oklo

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 stock in a transaction dated 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 directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oklo

A number of large investors have recently modified their holdings of OKLO. DRW Securities LLC acquired a new position in shares of Oklo during the 3rd quarter worth approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Oklo during the 3rd quarter worth $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Oklo during the third quarter worth about $104,000. Portland Investment Counsel Inc. purchased a new position in Oklo in the third quarter valued at approximately $6,493,000. Finally, Atom Investors LP acquired a new position in shares of Oklo during the 3rd quarter valued at $657,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.