Oklo Inc. (NYSE:OKLO - Get Free Report) dropped 8.1% during mid-day trading on Wednesday . The company traded as low as $45.40 and last traded at $46.12. Approximately 6,523,356 shares traded hands during trading, a decline of 69% from the average daily volume of 21,009,426 shares. The stock had previously closed at $50.19.
OKLO has been the subject of a number of recent research reports. Craig Hallum started coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price target for the company. B. Riley lifted their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Wedbush boosted their target price on shares of Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Finally, Citigroup lifted their price target on shares of Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $44.50.
View Our Latest Stock Analysis on Oklo
The stock's 50 day moving average is $33.30 and its 200-day moving average is $20.54.
In other news, Director Richard Kinzley acquired 5,000 shares of the business's stock in a transaction 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 transaction, the director now directly owns 5,000 shares of the company's stock, valued at approximately $99,750. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $4,982,596.09. Following the completion of the transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company's stock.
A number of hedge funds have recently made changes to their positions in the stock. Alpine Global Management LLC bought a new position in shares of Oklo in the fourth quarter worth about $427,000. Value Aligned Research Advisors LLC bought a new position in Oklo during the 4th quarter worth about $1,209,000. Gordian Capital Singapore Pte Ltd grew its holdings in Oklo by 1,058.3% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 6,000 shares of the company's stock worth $127,000 after acquiring an additional 5,482 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Oklo by 358.6% during the 4th 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 acquiring an additional 46,188 shares in the last quarter. Finally, Temasek Holdings Private Ltd bought a new position in Oklo during the 4th quarter worth about $5,447,000. 85.03% of the stock is currently owned by institutional investors.
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.
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